Topic: Risking 1% in Gambling - page 24. (Read 4380 times)

I didn't know there was a risk strategy that I could use in gambling, I just found out from your argument, but even so I think in risk management it is a little similar to what I do for gambling, which is a maximum of 5% of the total net income that I get per month, (as if it's nothing more than money for me to snack), and from the 5% that I budgeted it was divided into 2-4 sessions to do gambling within a month.

But it is true, budgeting that does not make us afraid of losing money, it is good financial management to do everything that makes you happy, like gambling for example, it will not have a bad impact on finances, but keep in mind that a person's income varies, and the level of adequacy is different, so adjust accordingly so that we can have good finances even though gambling.

Don't play at all, follow the rule, gamble what you can afford to lose and those who cannot afford to gamble has no room in gambling. Why would people force to gamble even if they are struggling financially? Most of the reasons are they want to change their lives for the better, and thinking gambling could help them achieve that is a wrong mindset, the reason why lots of people struggle more financially and they blame it all  to gambling instead on their ignorance.

And that's why it's not really applicable to most gamblers are it it way to low for us. And it one deposit or even one dice roll or one one sports bet, it could be that we will lose everything. So again, as per my experience, there's should be no fixed amount or percentage.

As long as the money is all good, and that if we lose it, we will not worry the next day. The thing is sometimes that 1% is a big risk for the gamblers. So they continue to bet and if they lost, then that's where the problem will arise for them the next day. So if you can't afford to gamble, then it's simply, stop playing and don't play even 1% of your budget.

I have heard about the 1% rule before, but for me this seems way to low. It's a good idea to have fixed gambling limits to protect our overall bankroll from going broke. We all need to decide for ourselves how much money we are willing to spend each month on gambling. With only 1% of our monthly income, it's seems quite low to play a lot of games. In your example with 58 USD this would be less than 15 USD, which doesn't seem a lot to gamble multiple nights per week with it. For most games there are minimum betting sizes of 0.5 or 1 USD, which would mean we could lose all our money for the week after a few games. In trading it's the same, 1% might be low enough for us to not feel bad about losing some of it. But we won't be able to accumulate a lot of money with it longterm. In my case I try to save and invest 10%of my money and probably use more around the 5% level for gambling.

The issue differs per spouse, like the first guy, who talked about explaining things to his wife before using the 1% of his income to gamble, similar attitude elsewhere can lead to an issue. But not big, as the funds are moderated. Yet if 1% of the income keeps disappearing each month, it'll be a cause for alarm on the wife's side. Because it's unusual to see a particular amount of money disappearing from the account each month. That's why in cases of using joint accounts, the both parties need to agree on the gambling activities of the man or woman. And to keep the non gambler on the trail, s/he needs to be updated. Most gamblers can cease the opportunity to initiate their wife into gambling as well. By telling her it's only for fun, nothing else. This will help both parties not to feel cheated or thinking that the money meant for feeding is being used for gambling. Remember, like I earlier said, not every woman would be glad to figure out such habit from her husband. Depending on her various family rules. It could be her family disregards gamblers. The issue will be hard to resolve, unless the husband stops gambling. Hence, a player with joint account, can easily find a different method of raising money he'll use for gambling. To be on a safe side, his wife won't notice in one bit, the husband's habit. As men we have to be observant of things that'll upset our women. Hence, if she constantly discuss about her hatred for gambling, we need to do that with caution. To maintain the respect she's got for the head of her family.

Yes, it is true that 1% looks very little and ridiculous for gamblers who want to make a profit through gambling, even to have fun in gambling it seems still not enough, I myself probably spend 5% of my salary income and I think it doesn't matter because the most important thing is I can determine the expenses which is not too much and not too little.
I can enjoy gambling with a minimum bet so that I can enjoy gambling longer, but when the 5% of the money I have set runs out or doesn't produce results, I don't try to deposit the money back to continue gambling activities and the most important thing for me is not to exceed that 5%. .

Every gambler must have their own budget setting, some are capable of losing more than 5% in the sense of 10%, some are capable of losing 20% because the most important thing is that gamblers set a budget that does not exceed their needs, it depends on the gambler, perhaps if they have a lot of needs, they determine 1% is okay, but if your needs have been met and there is still 3% 4% left, it's okay to try your luck in gambling because the priority is household needs first and then gambling.

Honestly, I think 1% is a very ridiculous amount.
I agree that it could be ideal, but it's like any other recommendation we receive that ultimately ends up not being practical, such as:
Do not eat more than a pinch of salt per day;
Don't drink more than 1 can of beer per week;
Exercise 3 times a week;
Don't spend more than 1% of your income on gambling.....

In an illusory world this would indeed be ideal, but in practice few people follow this as a rule because it is very difficult or very exaggerated.

It depends on you how much % of your money you can afford to lose. I don't see anything wrong with what you're doing as long as you're happy with what you're doing, if you entertain like that, it's okay, your money will last longer and you'll only lose a little. So for me that's also a good strategy because you can control yourself, you can stay within the budget you set, you're a disciplined gambler.

Actually the gambling site will tempt you to make mistakes by make you big win and make you feel like the brilliant then the gambling site.But the fact is gambling based on luck and Algorithms.Once your bet matches the algorithm,their will be huge chances of win.But the gambling people due to the random bet loss the bet in the gambling sites.The risking was always the possible in the gambling sites,So we can’t claim of the 1% risk alone in the gambling site.My prediction was we had nearly 50 percentage of the risk in the gambling sites.The win or loss had equal chances in the gambling site.So you should ready for both win and loss.

I don't particularly employ such strat as this keeps the fun out of gambling (I bet a lot of money in one go, it gives me a greater rush of excitement and nervousness compared to betting in small amounts), but I actually employ strategies that minimize the amount of money that I lose. And I keep saying this but I saw this in this forum as well, wherein they stop betting and gambling after 3 losses, and 3 wins. Either way, you're making sure that your wins are secured and they are not getting anywhere, meaning you have more money to keep for your self at the end of the day, or if in any case you're in a losing streak this day, your losses are minimized as much as possible. You might wanna look into trying this strat as well, it doesn't hurt anyway.

Yes it is true that as long as we gamble within reasonable limits or that means gambling with the right then obviously we will remain fine, and maybe you will not suffer a lot of things like the impact of gambling in general or even addiction, you will be able to avoid the possibility of unwanted things that can certainly be detrimental. But yes it is true that it is unfortunate that most of the gamblers forget that, I think several factors can be the reason and the driver why they are difficult to apply some precautions like that.

One of them is mindset, goals and misunderstanding in understanding what is in gambling. In my opinion, usually people will forget all the restrictions that they have previously prepared because they are too serious in putting their hopes on the chances of winning which in reality it is very difficult to get, they think that it will be easy to realize something that they always expect such as victory when the reality is far opposite, which means that there will be more defeats that occur than victories, they have proven it themselves but unfortunately it is very difficult for them to be able to realize that their mindset and goals are wrong. In this problem I think the mindset should be changed first, because it is useless to suggest many things if basically their beliefs and expectations are still like that.

As long as we know the limits of gambling and obey them, we will definitely be fine. But in reality, many people don't remember this, and instead, they violate it by depositing more money to be able to chase their winnings. Whatever amount of money you use to gamble, it is an amount you can afford, so you don't need to take the risk of experiencing a big loss. If more people could do this, the number of problem gamblers could decrease because many gamblers would try to gamble responsibly so they could avoid the greater risk of losing. They will also be able to manage their money well while gambling and know when to stop gambling.

Using 1% of your total fund in your Portfolio could be a good idea but it might not be that profitable especially for someone that has small funds available for betting. To me, I think using just one percent of total portfolio is too small and it could be increase to 5 percent or lower if the gambler has a large fund in account. This is one of the ways for us to bet with maximum safety so that people will not end up betting and losing huge funds. Like we know that gambling addiction is one of the problems many people are facing, this will help us to bet responsibly.

Thats one of the main cons when you do have a joint account specially into your wife, you would really be able to monitored out on what are those spendings that you have done and it would really be an inevitable thing that you would be asked out and this is something that i dont like. This is why i do really have that separate card of course but still my wife do really still need to check out my balance and she knows on
where money will really be spent. The only thing that i do like is that you do really have that able to save up for yourself, not on being selfish but we know that it is really that entirely different
if you do have that money on your pocket or in card which you could be able to spend on when you do like.

Speaking about risking 1% of household income in gambling then if those things are speaking about joint account then expect there would be questions asked about that 1%.
We know that women are really that too eager on knowing everything when it comes to finances specially if you do have a family to feed then it would be normal to raise
up those questions and this is why i dont really see it for it to be a big issue.

I think that it doesn't change anything whether you risk 1% or 10% of your income as long as you can afford it.

If we assume that the real probability of winning is at 45% or something like that, what does it change if you bet $1 ten times or $10 one time? The mathematical probability will remain the same and house edge subtracted from the amount you're betting will also be the same.

The only thing I see as a positive is that betting 1% will never have a negative influence on your life. 1% is nothing. Most people spend more on alcohol, cigarettes, items in online games, and other hobbies and addictions.

I always say that you should do whatever makes you happy. If 1% is satisfying for you you should keep on doing it.

Families with joint or linked banked accounts would question one another about how they spend money. I don't know how you'll be able to escape such questions from your wife, if she focuses on asking about your activities or notices that you are a gambler. It's not simple to keep the truth away from them. Except you don't have a joint account with her, I'd say your decision is great and it also makes you a loving husband not every woman would feel comfortable about having a gambler as a husband. We've had similar discussions in this forum about letting our spouse know about our gambling habit. But, it feels good to discuss gambling with our wife, if she's not worried about it. From the Op's idea or strategy, 1% is great for any household and our partner would be happy to discover how money conscious her spouse is, instead of winding up the income. Causing trouble for the family. Which is basically where the family problems erupt. And why most women hate gamblers. Aside that, if you're a responsible gambler, it'll be rare to find her sad or wary about the gambling habit.

I mean. Someone who is not even able to use a 1% of their income would imply that person is actually in such a dire situation in which they may not even have a phone, a computer or access to internet to begin with.
The only real situation where someone could not even risk 1% of their money would be if that same person is deep in debt and cannot afford to miss payments.

Back some years ago I was the kind of users who liked to try casinos first if they had some faucet feature, Instead of depositing right away. It was a period of time in which we (as a country) were going to a deep economical crisis, so at least I could distract myself a bit thanks to faucets and some spare time I had.

I think that is the key here, we gamble if we have that extra money in our pocket so that it won't affect the money that we work very work hard because we could have been allotted it for more important things such as for our families, and bringing food in the table for them. And off course, other basic things like electricity and water and house bills.


Sports betting or slot machines, it's all good for us, we take risk with our extra money and then if we win, then good for us. At least a little help is needed and we stretch that budget. But if we lose, still nothing will change, and we will not be affected because that fund is just for gambling and we can afford to lose it.

Your gambling attitude is responsible and self-aware, admirable. Gambling should never be considered as a way to get rich, but as affordable fun. You're right - gambling winnings rarely change lives. This exercise requires this reality check.

While you dont intend to get rich gambling, are you aware of its subtle psychological effects? Gambling isnt just about the money; its about the "what if" it leaves you with. This "what if" can be as captivating as a win, keeping you coming back.

Its excellent you choose family over gambling. It shows a genuine appreciation for delight and value. However, even a $10 bet contains this "what if". So be careful when gambling for amusement. Sometimes fun and compulsion blur without notice. Responsible gambling is about controlling the "what if" and sticking to reality, not simply the money.

It seems that I am also one of those people who gambles on small percentages but never calculates the total amount. I gamble when I have extra money and never use money from work and usually I use bonuses from work or overtime if I want to gamble. I've heard about the strategy of 1% to 5% of the budget used for gambling but I don't know how they keep the flow of funds in the account.

When I decide I want to gamble then I look at the percentage of money placed in the account and usually I prefer to bet on football or slot games. I'm also not an active gambler so it doesn't matter much about the allocation of gambling funds that I use because I usually use more A little than I earn from work.