Yes, the 1% Risking strategy is suitable for high-risk types of businesses or games. Some people will accept a higher level of risk, but I think 1% is quite suitable to help us more easily manage our accounts. It helps us minimize risks to the lowest level, and does not affect our total capital, thereby making our playing psychology more comfortable.
However, it must be added that this is just a tool to help manage risk in gambling, we need to combine it with knowledge, skills and analysis to achieve the best possible results.
Topic: Risking 1% in Gambling - page 2. (Read 4380 times)
You have to do this by adjusting your abilities, because if you do it too much, it will only make your mind confused, maybe what will happen is pressure that we cannot accept, which can trigger stress. Of course, excessive pressure will affect your mental health. In my opinion, risking 1% on gambling will not be a problem if we can control ourselves well, because if we cannot control ourselves well then everything is the same, the possibility that will happen is that we gamble again after experiencing defeat.
I agree with you, gambling is not a competition and is not a way to make money for sure, gambling is just a game which has a bad impact if we respond to it wrongly, like responding to it is the same as a means of making money for sure, of course if that's the case what will happen is losing a lot just money and it affects our mentality. There are also many cases of people committing suicide due to excessive stress due to excessive gambling.
Your comment about altering abilities is spot-on. The key is profound comprehension of one's limits and talents, not just adjustment. Do you think pushing oneself mentally causes chaos and confusion? Balance is what the mind, a magnificently intricate organism, needs, not overwhelming waves of excess pressure that cause stress and despairI agree with you, gambling is not a competition and is not a way to make money for sure, gambling is just a game which has a bad impact if we respond to it wrongly, like responding to it is the same as a means of making money for sure, of course if that's the case what will happen is losing a lot just money and it affects our mentality. There are also many cases of people committing suicide due to excessive stress due to excessive gambling.
Gambling is a mirage that too many chase into the emptiness. Your 1% risk rule? It's a razor's edge between control and disaster. The key is self-control, which many struggle with because the pleasure of the risk often overshadows the reality of loss and emotional suffering
The sadness of individuals forced to give up on lost wagers serves as a sharp reminder of the worst consequences of gambling. More than money is lost; lives and potential are destroyed. Thus, the call to arms is awareness and accountability, to see gambling as a mental health risk as well as a financial risk
Is forcing yourself to continue gambling good, friend?
I don't think so, indeed we have to have a balance, in gambling of course this is necessary, we have to be able to balance the time for gambling and the budget for gambling, because of course that will help us avoid things we don't want, such as big losses. , because many people gamble and experience big losses, they gamble without having set limits.
you mentioned the key is deep understanding, and then you said the key is self-control. In my opinion, just saying self-control says it all. What is clear is that we should not gamble excessively, bet according to our abilities. do not gamble beyond our means, because it will be a disaster. Don't let us gamble too much so that we experience our own losses.
Yes, this is actually correct because if you don’t set a particular amount that you are supposed to use for gambling from your portfolio, you end up losing everything because of the greedy sometimes we actually win couple of times, but we always want to win more and it makes us put more money on it, the only option, which is the truth for everyone to know as a gambler or someone intend to start gambling in future should know that setting a particular amount or percent for gambling should be the best decision even when you want to start for the first time you don’t need to use more than 5% money from your monthly payment, you should at least use between 1 to 5% so that if you lost it will be a problem because what you are doing is risk.
-snip-
Gambling with a smart strategy creates a vision for a gambler to observe the game he's into. At some point, if he wishes to embark on a risky session, he can do that calculative. Maybe accumulated spare cash is enough to multiply the game to a high amount. However, it's risky, but not enough to affect the emotions of the players, as he's ready for any outcome. Some players who wager a whole part of their money, face the trouble of dealing with loss. On a lucky day, they may also win big. Yet what matters is being able to withhold the funds after the big win. Not spending back into the game, helps the player at least to take a rest outside of the casino and enjoy his winnings.
Gambling with a smart strategy creates a vision for a gambler to observe the game he's into. At some point, if he wishes to embark on a risky session, he can do that calculative. Maybe accumulated spare cash is enough to multiply the game to a high amount. However, it's risky, but not enough to affect the emotions of the players, as he's ready for any outcome. Some players who wager a whole part of their money, face the trouble of dealing with loss. On a lucky day, they may also win big. Yet what matters is being able to withhold the funds after the big win. Not spending back into the game, helps the player at least to take a rest outside of the casino and enjoy his winnings.
You mentioned some great ideas in this paragraph that all gamblers should take into account:
- Calculated risk avoids being affected by emotions.
- We usually forget to enjoy our winnings instead of spending them back in the casino.
However, I'd like to remember that the OP wasn't talking about spending a percentage of his salary, which could lead to emotional distress if it is too high, but about a percentage of his separated money for gambling in each bet.
Yes, I will actually tell you that it is a smart move. If only you use just 1% or even up to 5% of your gambling post because it will enable you. We stand the pressure of your loss. It affect your mental health that your money is going down Before you lose more and more you would definitely have a little profit that will cover up everything you have lost most people don’t usually follow this strategy some people gamble everything in the portfolio some people gamble 50% some people even gamble everything and add more for their own personal money from their bank to gamble it’s not just a wise idea. Gambling is not competition is something that someone do wisely .
When a person or gambler tries to get more money from gambling, the amount of money used in gambling will increase. And when the amount of money used in gambling increases, he will naturally move away from gambling. His greed will increase and he will rush towards addiction. Using a small amount of money in gambling allows a gambler to engage in risk free gambling which results in a gambler making better decisions. If a gambler bets up to 10 percent of their income on gambling I think they can practice responsible gambling. If the amount of money less used, the amount of risk will also be reduced.The amount of money a gambler spends depends on the weight of his income. Players with higher income can decide to shift it up to 5% or more, which amounts to a huge amount of money for a low roller. For a high roller, it's fine to wager such an amount per month, a low roller who wishes to try it out may end up regretting his actions. Because his bankroll will run dry. Hence, as a player, it's crucial to understand that the income earned plays a vital role in gambling. Wagering an amount quite too big to affect our financial stability, isn't right. The money could be lost, and the long night thoughts begin. Stabilizing and maintaining how money is spent while gambling boosts the confidence never to worry about losing the money. If he loses, he's not affected, as it's a spare cash.
Gambling with a smart strategy creates a vision for a gambler to observe the game he's into. At some point, if he wishes to embark on a risky session, he can do that calculative. Maybe accumulated spare cash is enough to multiply the game to a high amount. However, it's risky, but not enough to affect the emotions of the players, as he's ready for any outcome. Some players who wager a whole part of their money, face the trouble of dealing with loss. On a lucky day, they may also win big. Yet what matters is being able to withhold the funds after the big win. Not spending back into the game, helps the player at least to take a rest outside of the casino and enjoy his winnings.
Risking out 1% out of your monthly salary isnt really that a bad approach and control that you could really be having because having limits would really be that signifying that you are really that in good control with your gambling activity on which it is really that a good step for you to be able to avoid up such possible potential problems in the future.
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I'm failing to understand the benefits of the 1% rule. Even if its main goal was to be a control measure to prevent gambler from incuring an excessive loss, it's not really effective in this area as the only limit is 1% per bet which does not prevent player from betting hundreds of bets in a short time frame.
But is the purpose of that rule is to increase profitability then it's even worse. As I mentioned previously, are simplistic rule like that won't work well as it doesn't consider all other factors.
So a person following that strategy should in fact save themselves a great deal of money, since the losses they may suffer will be very low, however I am not so sure those that really like to gamble will be happy to downsize their budget to that amount.
What you say is very true, but basically things can be very difficult for some who cannot even bet 1% because perhaps the expenses and obligations are very high , very Strong and this can cause much more reduction of expenses So if a person tells me that he plays with only 1% of his monthly income, it is something that I once again think is a responsible person, because he places the casino's activity in the position it should be, he is not putting it First of all, if he is not putting it in a Place where the main Importance is the basic cats, this seems to me like he is a responsible person.
In many Ways, playing in a Casino can seem like a Luxury , Something that not everyone has, some will say that it is too little money, but we don't know if that 1% of people are Stopping going out to eat ice cream with their family, or at least go for a walk in the park, that is something that we must consider when faced with any type of Criticism that may be made.
We, as players, always want to have a lot of money to spend on Something , because we like it, because we can be passionate about i t, but we are people who, Even before giving ourselves over to fun, have to fulfill our obligations.
Risking out 1% out of your monthly salary isnt really that a bad approach and control that you could really be having because having limits would really be that signifying that you are really that in good control with your gambling activity on which it is really that a good step for you to be able to avoid up such possible potential problems in the future.
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I'm failing to understand the benefits of the 1% rule. Even if its main goal was to be a control measure to prevent gambler from incuring an excessive loss, it's not really effective in this area as the only limit is 1% per bet which does not prevent player from betting hundreds of bets in a short time frame.
But is the purpose of that rule is to increase profitability then it's even worse. As I mentioned previously, are simplistic rule like that won't work well as it doesn't consider all other factors.
Now, the question is, how many people can have as much as $50,000 in their betting account? This makes this kind of approach to be shocky, it can't be good for anyone who wants to make money from gambling but those who are gambling for fun. It would be so lovely if one could practise this when they do not want to gamble for the money but for the entertainment. They will be gambling many times and still not lose their money, and yet have that needed fun in full.
Yes, I will actually tell you that it is a smart move. If only you use just 1% or even up to 5% of your gambling post because it will enable you. We stand the pressure of your loss. It affect your mental health that your money is going down Before you lose more and more you would definitely have a little profit that will cover up everything you have lost most people don’t usually follow this strategy some people gamble everything in the portfolio some people gamble 50% some people even gamble everything and add more for their own personal money from their bank to gamble it’s not just a wise idea. Gambling is not competition is something that someone do wisely .
You have to do this by adjusting your abilities, because if you do it too much, it will only make your mind confused, maybe what will happen is pressure that we cannot accept, which can trigger stress. Of course, excessive pressure will affect your mental health. In my opinion, risking 1% on gambling will not be a problem if we can control ourselves well, because if we cannot control ourselves well then everything is the same, the possibility that will happen is that we gamble again after experiencing defeat.I agree with you, gambling is not a competition and is not a way to make money for sure, gambling is just a game which has a bad impact if we respond to it wrongly, like responding to it is the same as a means of making money for sure, of course if that's the case what will happen is losing a lot just money and it affects our mentality. There are also many cases of people committing suicide due to excessive stress due to excessive gambling.
Gambling is a mirage that too many chase into the emptiness. Your 1% risk rule? It's a razor's edge between control and disaster. The key is self-control, which many struggle with because the pleasure of the risk often overshadows the reality of loss and emotional suffering
The sadness of individuals forced to give up on lost wagers serves as a sharp reminder of the worst consequences of gambling. More than money is lost; lives and potential are destroyed. Thus, the call to arms is awareness and accountability, to see gambling as a mental health risk as well as a financial risk
Risking out 1% out of your monthly salary isnt really that a bad approach and control that you could really be having because having limits would really be that signifying that you are really that in good control with your gambling activity on which it is really that a good step for you to be able to avoid up such possible potential problems in the future.
(...)
(...)
I'm failing to understand the benefits of the 1% rule. Even if its main goal was to be a control measure to prevent gambler from incuring an excessive loss, it's not really effective in this area as the only limit is 1% per bet which does not prevent player from betting hundreds of bets in a short time frame.
But is the purpose of that rule is to increase profitability then it's even worse. As I mentioned previously, are simplistic rule like that won't work well as it doesn't consider all other factors.
So a person following that strategy should in fact save themselves a great deal of money, since the losses they may suffer will be very low, however I am not so sure those that really like to gamble will be happy to downsize their budget to that amount.
Yes, I will actually tell you that it is a smart move. If only you use just 1% or even up to 5% of your gambling post because it will enable you. We stand the pressure of your loss. It affect your mental health that your money is going down Before you lose more and more you would definitely have a little profit that will cover up everything you have lost most people don’t usually follow this strategy some people gamble everything in the portfolio some people gamble 50% some people even gamble everything and add more for their own personal money from their bank to gamble it’s not just a wise idea. Gambling is not competition is something that someone do wisely .
When a person or gambler tries to get more money from gambling, the amount of money used in gambling will increase. And when the amount of money used in gambling increases, he will naturally move away from gambling. His greed will increase and he will rush towards addiction. Using a small amount of money in gambling allows a gambler to engage in risk free gambling which results in a gambler making better decisions. If a gambler bets up to 10 percent of their income on gambling I think they can practice responsible gambling. If the amount of money less used, the amount of risk will also be reduced. 
I had already commented on this idea or strategy of using 1% of winnings to bet or play in casinos, not being a good idea or strategy for the simple fact that there are cases of people who earn $100 in salary per month, in that case if the If a person took 1% to play per month, then the person would have 1$ to play per month, how the hell would it be possible to use 1$ to play per month? no one would be satisfied with 1$ to play for 1 month. That's why I say this 1% strategy doesn't work. The ideal is for each person to take their monthly income and pay all the bills first, then look at the money they have left and start analyzing what things they want to do for fun that month and how much money they will spend on each thing they want. Gonna have fun that month
Once this is done, you can then look at the money that remains and allocate it to gambling, because gambling is a very different type of entertainment from other entertainment that exists. For example, a person who has a wife and children, at the end of the month they pay all the bills and the money is allocated for fun, they choose places to have fun, but the husband wants to have fun in the casinos, he won't be able to go to the casinos and leave his wife and children. Therefore, he will have to allocate a larger amount of money to other things that his wife and children can have fun with and he will play with little money and with a lot of moderation because if he spends too much time at the casino he will lead to fights with his wife.
Once this is done, you can then look at the money that remains and allocate it to gambling, because gambling is a very different type of entertainment from other entertainment that exists. For example, a person who has a wife and children, at the end of the month they pay all the bills and the money is allocated for fun, they choose places to have fun, but the husband wants to have fun in the casinos, he won't be able to go to the casinos and leave his wife and children. Therefore, he will have to allocate a larger amount of money to other things that his wife and children can have fun with and he will play with little money and with a lot of moderation because if he spends too much time at the casino he will lead to fights with his wife.
Yes, I will actually tell you that it is a smart move. If only you use just 1% or even up to 5% of your gambling post because it will enable you. We stand the pressure of your loss. It affect your mental health that your money is going down Before you lose more and more you would definitely have a little profit that will cover up everything you have lost most people don’t usually follow this strategy some people gamble everything in the portfolio some people gamble 50% some people even gamble everything and add more for their own personal money from their bank to gamble it’s not just a wise idea. Gambling is not competition is something that someone do wisely .
You have to do this by adjusting your abilities, because if you do it too much, it will only make your mind confused, maybe what will happen is pressure that we cannot accept, which can trigger stress. Of course, excessive pressure will affect your mental health. In my opinion, risking 1% on gambling will not be a problem if we can control ourselves well, because if we cannot control ourselves well then everything is the same, the possibility that will happen is that we gamble again after experiencing defeat.I agree with you, gambling is not a competition and is not a way to make money for sure, gambling is just a game which has a bad impact if we respond to it wrongly, like responding to it is the same as a means of making money for sure, of course if that's the case what will happen is losing a lot just money and it affects our mentality. There are also many cases of people committing suicide due to excessive stress due to excessive gambling.
Risking out 1% out of your monthly salary isnt really that a bad approach and control that you could really be having because having limits would really be that signifying that you are really that in good control with your gambling activity on which it is really that a good step for you to be able to avoid up such possible potential problems in the future.
(...)
(...)
I'm failing to understand the benefits of the 1% rule. Even if its main goal was to be a control measure to prevent gambler from incuring an excessive loss, it's not really effective in this area as the only limit is 1% per bet which does not prevent player from betting hundreds of bets in a short time frame.
But is the purpose of that rule is to increase profitability then it's even worse. As I mentioned previously, are simplistic rule like that won't work well as it doesn't consider all other factors.
Yes, I will actually tell you that it is a smart move. If only you use just 1% or even up to 5% of your gambling post because it will enable you. We stand the pressure of your loss. It affect your mental health that your money is going down Before you lose more and more you would definitely have a little profit that will cover up everything you have lost most people don’t usually follow this strategy some people gamble everything in the portfolio some people gamble 50% some people even gamble everything and add more for their own personal money from their bank to gamble it’s not just a wise idea. Gambling is not competition is something that someone do wisely .
It's true that it can be done, in fact it has to be done when we gamble, so we have to be able to have self-control, whether it's our own rules that clearly don't lead to losses, or limiting the time and budget for gambling. And also responsibility for everything that happens because of it. actions taken on oneself. However, the fact that gambling can change people's thinking in just a short time is the problem, gambling easily influences the thinking of every gambler, many of whom change their gambling motives when they gamble. Initially they have a target where once they reach the target they will stop, but when they reach the target of course the temptation to gamble is strong so it influences their thinking to continue gambling because they want a bigger win. Many people don't have the strength to maintain their own rules, I'm sure all gamblers have felt this way.
It's true, we should only set aside a small amount of money for gambling, the main thing to pay attention to is needs like you said, namely food, medicine, or paying bills here and there and this and that. and if all of that can be said to be safe and there is still money left over then there is no problem in betting it on gambling. Don't gamble with unmet needs.
We should be able to manage our finances well, manage our finances well or in other words be able to meet our needs, which we should prioritize first, because in my opinion there are also people who don't gamble but their needs are often not met while the income they get is is more than enough, and that's because they can't manage their finances well, tend to spend money as they please, don't think about it and don't consider it first, and I think people like this have fleeting thoughts. when they have money they only think they can buy what they want, but don't pay attention to their exact needs first, only prioritizing desires, not needs, so it is very important that we manage our finances very carefully.
You claim self-control is important, yet gambling contradicts that, right? Setting goals is a facade that will fall. Why? Humans aren't created for "stop while you're ahead" mentality. More, more, more. They, yes, they, think they're in control, setting aside "just enough" for gambling, but isn't that just a self-deception?It's true, we should only set aside a small amount of money for gambling, the main thing to pay attention to is needs like you said, namely food, medicine, or paying bills here and there and this and that. and if all of that can be said to be safe and there is still money left over then there is no problem in betting it on gambling. Don't gamble with unmet needs.
We should be able to manage our finances well, manage our finances well or in other words be able to meet our needs, which we should prioritize first, because in my opinion there are also people who don't gamble but their needs are often not met while the income they get is is more than enough, and that's because they can't manage their finances well, tend to spend money as they please, don't think about it and don't consider it first, and I think people like this have fleeting thoughts. when they have money they only think they can buy what they want, but don't pay attention to their exact needs first, only prioritizing desires, not needs, so it is very important that we manage our finances very carefully.
You're bold to suggest putting needs before wants. However, gamblers' minds blur those lines fast! They and we start with rules, but the game transforms us, right? Psychological warfare, and guess what? Most are unprepared. Talking about money management is just the beginning. The pursuit and pleasure are more important than the money
And society? It's like a bystander watching the train wreck without helping. This epidemic of choosing wants over needs and living in the today without thinking about tomorrow affects more than just gamblers. The culture of quick satisfaction over long-term planning is the problem. What's the exit? Awareness. Acknowledgment. Action. Both personal and collective. We must change the narrative to build resilience, not regulations
setting aside a little money to gamble, in my opinion it is not self-deception, but something that must be done, because why should we do that? In reality, we have to survive and survive by fulfilling our needs. prioritize and prioritize needs don't try to set aside a lot of money in gambling. with the many cases that have occurred regarding the bad effects of gambling, I think we can use it as a lesson for ourselves so that the same thing doesn't happen by not spending a lot of money on gambling. Do you think wants are more important than needs?
Indeed, the statement that games can change us mentally, and that is because we cannot accept the reality of what happens with gambling and this may also be because we are too hopeful about gambling which can give us a definite win. Therefore, we must be able to see the clear facts that will happen in the gambling we do, and by not doing excessive gambling, such as spending a lot of money just for gambling. Setting aside a little of the income earned can be done if we don't expect more from gambling.
when they have wrong thoughts obviously gambling will change them too as time goes by. including those who only think about gambling, not thinking about the bad impacts or the risk of losing more money. instead of wanting to recover losses, in reality they become increasingly miserable instead of for pleasure, but everything can change when thinking is no longer clear. and in the end they become addicted to gambling, which is a difficult thing to recover from, to be able to recover of course they have to be aware of it themselves, but for them to be able to realize and admit it and then take action for recovery is very difficult, many gamblers fail with the recovery process.
~snip~
For those that may want to find out exactly how high their bet needs to be so they can obtain the most profits with it, obviously this assumes the person in question has a way to beat the casinos already, a good way to do this is with the Kelly Criterion.
The Kelly Criterion allows a gambler or a trader to determine how high their bet or their position should be to obtain the most profits, and while like any other formula, it has its critics, you can do a lot worse than to apply the Kelly Criterion.
For those that may want to find out exactly how high their bet needs to be so they can obtain the most profits with it, obviously this assumes the person in question has a way to beat the casinos already, a good way to do this is with the Kelly Criterion.
The Kelly Criterion allows a gambler or a trader to determine how high their bet or their position should be to obtain the most profits, and while like any other formula, it has its critics, you can do a lot worse than to apply the Kelly Criterion.
The amount of money you bet is basically a multiplier of the odds the casino is playing.
So, even if you bet $1, you will have the same odds as if you gambled $100 or one thousand.
At the end of the day it is just probabilities, and the maximum you can get is basically the maximum you can bet in that game.
Of course, the flip-side to that is that betting the maximum also maximizes the amount you can lose, and the odds are against you, so you will most probably lose it.
This is what that would really be pushing for them to play even more because they do know that odds is odds on hitting up something a winning roll or bet. Risking out 1% out of your
monthly salary isnt really that a bad approach and control that you could really be having because having limits would really be that signifying that you are really that in good control with
your gambling activity on which it is really that a good step for you to be able to avoid up such possible potential problems in the future.
1% is really that actually small honestly on which if you are someone who do earn that small and getting on 1% of it then i doubt that the amount would be that significant.
For sure you wont really be able to make yourself that enjoy on that amount and you would really be tending to add up even more which is i highly doubt that.
Yes I have heard of 1% of weekly income before but I still go for 5% which is not what I can not afford to just lose. But it would be good if someone can go lower like 1%.
There are some weekend that I would win more and leave the rest for the following week or use it for something fun like beer. But there are sometimes that I will lose too. There are many times I just did not go more than 2% weekly because I am busy and unable to gamble more.
Going for just 1% is good. The lesser you go, the better you will be able to afford the loss.
There are some weekend that I would win more and leave the rest for the following week or use it for something fun like beer. But there are sometimes that I will lose too. There are many times I just did not go more than 2% weekly because I am busy and unable to gamble more.
Going for just 1% is good. The lesser you go, the better you will be able to afford the loss.
Yeah, 5%, I think, is fine with me because, for example, if the salary of an ordinary person is around $300, then only 1% will come out. Here in our country, the salary of ordinary people in a company only ranges from around 300 to 400 dollars per month.
But in my situation, I only have a limit amount when I gamble in a casino, and it's only around 30 dollars per game. This amount is what I'm willing to lose the day I play gambling, and if I win, it's good luck.
Gambling can be a fun way to spend some time, like watching a game with some extra spice on the line. But anyone who thinks it's a guaranteed route to riches is probably chasing a rainbow. The odds are stacked against you, kind of like winning every single carnival game – possible, but not exactly likely.
We all know stories of people hitting the jackpot, but for every one of those, there are way more folks walking away lighter in the wallet. It's like that friend who insists on that scratch-off ticket every week – all fun and hope, until their wallet starts looking a bit thin.
So, the real question is: when to gamble? Here's my advice: only play if you can afford to lose what you're betting. Think of it as entertainment, not an investment in your future mansion (unless you own the casino, that's a different story).
It totally matters with your own views and perspective and people do mess up their lives just because they do really end up on having that kind of wrong approach towards it because on the time that you do playWe all know stories of people hitting the jackpot, but for every one of those, there are way more folks walking away lighter in the wallet. It's like that friend who insists on that scratch-off ticket every week – all fun and hope, until their wallet starts looking a bit thin.
So, the real question is: when to gamble? Here's my advice: only play if you can afford to lose what you're betting. Think of it as entertainment, not an investment in your future mansion (unless you own the casino, that's a different story).
gambling and minding about on becoming rich then this is where issues would really be starting to come out or happen because on the moment that you would really be making yourself that delusional then you would really be trying out to play which is really that more than with your usual limit or simply with your budget. If you are that someone who do spend up a huge % on your monthly salary on gambling then
you are just basically putting up yourself on such tough issues and problems which might rise soon.
Going for what is bogus in gambling, is a wrong move that most players don't hesitate to make, for the sake of money. However, we all need money to settle different troubles, but this type of gamblers surprises me by wagering their wins back to the casino. What then do they need in return? Are they looking to shut down the casino with an enormous win? In the sense that a gambler also spends more than earns in gambling, still leaves lots of people wondering over the type of thoughts moving through the brain of gamblers.
Nothing else other than same mentality of humans, trying to get everything they've ever set their eyes upon. Refusing to accept that they may end up not getting those things they wish to get via gambling, lands lot of gamblers into trouble. Wagering few portions of our income is quite a reason form of gambling. It safeguards the wealth of the gambler, unlike other players who throw away their wealth in search of an uncertain wealth.
~snip~
For those that may want to find out exactly how high their bet needs to be so they can obtain the most profits with it, obviously this assumes the person in question has a way to beat the casinos already, a good way to do this is with the Kelly Criterion.
The Kelly Criterion allows a gambler or a trader to determine how high their bet or their position should be to obtain the most profits, and while like any other formula, it has its critics, you can do a lot worse than to apply the Kelly Criterion.
For those that may want to find out exactly how high their bet needs to be so they can obtain the most profits with it, obviously this assumes the person in question has a way to beat the casinos already, a good way to do this is with the Kelly Criterion.
The Kelly Criterion allows a gambler or a trader to determine how high their bet or their position should be to obtain the most profits, and while like any other formula, it has its critics, you can do a lot worse than to apply the Kelly Criterion.
The amount of money you bet is basically a multiplier of the odds the casino is playing.
So, even if you bet $1, you will have the same odds as if you gambled $100 or one thousand.
At the end of the day it is just probabilities, and the maximum you can get is basically the maximum you can bet in that game.
Of course, the flip-side to that is that betting the maximum also maximizes the amount you can lose, and the odds are against you, so you will most probably lose it.
That's something we have to pay attention to early, we have to prepare a certain amount of money that we are willing to lose, because in gambling the possibility of losing is very large. indeed we should have to fulfill basic needs first, because that is our necessity to be able to survive, gambling using the remaining money from everything that has been fulfilled may not be a problem, don't gamble when you have limited money and your needs are met, and Don't expect to have a little money to double it in gambling where you hope to get profitable wins and then be able to meet all your needs, that's not true.
of course everyone has a different economic level and also with different financial income, adjusting the budget for gambling to our situation must be done, if you still have enough money then there is no harm in gambling but if you don't have enough money then don't force it. yourself, it will only invite bigger problems. When there is no money left because you have run out of necessities, it is not recommended to force yourself to gamble, such as borrowing money to gamble, it is not recommended, if you don't have money then don't think about gambling. because money management is also important, when we have income of course we have to be able to manage it well, divide it and prioritize most of it for our needs, don't prioritize gambling and allocate more of it than we need. Just allocate enough, because luck can come when the time is right, even with 1% if you are lucky then you can get a win like what I experienced last night.
of course everyone has a different economic level and also with different financial income, adjusting the budget for gambling to our situation must be done, if you still have enough money then there is no harm in gambling but if you don't have enough money then don't force it. yourself, it will only invite bigger problems. When there is no money left because you have run out of necessities, it is not recommended to force yourself to gamble, such as borrowing money to gamble, it is not recommended, if you don't have money then don't think about gambling. because money management is also important, when we have income of course we have to be able to manage it well, divide it and prioritize most of it for our needs, don't prioritize gambling and allocate more of it than we need. Just allocate enough, because luck can come when the time is right, even with 1% if you are lucky then you can get a win like what I experienced last night.
Yes, in order to be able to play and be responsible in the game it is not difficult, it is a matter of ordering oneself, of having some responsibility, and it is not difficult but what we have to respect are our own rules, and our own rules. They cannot be broken, because we are people who need a lot of order and many responsibilities, so when we organize ourselves we know very well what we should buy, what we need, this is what I mean food, medicine, paying for services, being responsible with that Yes, when you finish covering those expenses, I think you can take some money to have something to play at the casino.
So you see that's what I mean, in my case I always do that, of course you also have to leave a little money in case of a family emergency, something or an unexpected expense, a virus, anything to be able to cover it, because It would not be your responsibility to spend everything and when someone at home gets sick not to have the opportunity to buy their antibiotics or something.
In view of all these things one can decide how much money one is willing to spend or lose in a casino, this is basically what I do to be able to have order with my things, that is why I give importance to the fact that money must be managed, because for the casino I set aside or that one spends at a movie theater or something like that, that kind of amount.
It's true, we should only set aside a small amount of money for gambling, the main thing to pay attention to is needs like you said, namely food, medicine, or paying bills here and there and this and that. and if all of that can be said to be safe and there is still money left over then there is no problem in betting it on gambling. Don't gamble with unmet needs.
We should be able to manage our finances well, manage our finances well or in other words be able to meet our needs, which we should prioritize first, because in my opinion there are also people who don't gamble but their needs are often not met while the income they get is is more than enough, and that's because they can't manage their finances well, tend to spend money as they please, don't think about it and don't consider it first, and I think people like this have fleeting thoughts. when they have money they only think they can buy what they want, but don't pay attention to their exact needs first, only prioritizing desires, not needs, so it is very important that we manage our finances very carefully.
You're bold to suggest putting needs before wants. However, gamblers' minds blur those lines fast! They and we start with rules, but the game transforms us, right? Psychological warfare, and guess what? Most are unprepared. Talking about money management is just the beginning. The pursuit and pleasure are more important than the money
And society? It's like a bystander watching the train wreck without helping. This epidemic of choosing wants over needs and living in the today without thinking about tomorrow affects more than just gamblers. The culture of quick satisfaction over long-term planning is the problem. What's the exit? Awareness. Acknowledgment. Action. Both personal and collective. We must change the narrative to build resilience, not regulations
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