Risking 1% in Gambling - page 28. | Bitcointalksearch.org

Finestream

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Quote from: bluebit25 on November 29, 2023, 11:28:52 PM

Excessive security does not make gambling more interesting, because there are no rules to follow when spending money on gambling games. I might be willing to spend 10% of my monthly income on betting, but of course it doesn't happen often, and gambling doesn't force me to play, and I want to actively seek comfort when in contact with it. But I absolutely believe this strategy's recommendations can be applied to those pursuing this field in a strategic way to bring in new revenue streams. Perhaps this is just a small part of the entire guide to money management here.

I gotta agree with this, if we aren't risk taker then we shouldn't be gambling. 1% is quite low for majority of the gamblers, and since majority aren't earning huge salary on a monthly basis, that 1% might not even excite them anymore.

Maybe we should start with asking how much as the average salary on majority of the gamblers. My wide guess is less than $1000... So 1% of that, just guess, the answer will give you an interest not to gamble anymore.

This percentage if followed will only discourage gamblers from enjoy this entertainment thing.

rodskee

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Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

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.

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.

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game? This way not only we are safe from losing big amounts but at the same time, we never find ourselves in a situation where we go all in, in some bet and then have the fear of losing all of our money.

You must have heard 1% strategy in trading, the same can be applied in gambling too and believe me, you will feel a lot more comfortable using this 1% of your money in every game.
This also gives you a lot of games to play before you end up on your money as on every bet you will use 1% of your money. In case you lose all bets, you will be playing 100 games because your money is exhausted.

The Lower-Risk Gambling Guidelines

I am not sure if I can handle spending 1% for each gambling? you are so controlling your desire t
o gamble so why need to do it? I mean since you are responsible gambler then why not stop gambling and focus in other
form and profiteering? unless you are just enjoying in here so you can only use that 1% that very rare from other gamblers
if not the majority of us, I myself cannot guarantee in single moment that i can manage spending only that small percentage.

Quote from: CryptSafe on November 29, 2023, 03:34:31 PM

1% gambling style is okay as long as it does not affect you financially.

I'm pretty sure that this wont even affect his salary because that is just 1% of the folio he has .and
from my perspective that is too cheap to lose than just playing without even planning for tomorrow, OP seems to be one of
the best gambler I even heard.

aioc

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Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

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.

Mine is from 2 - 5% and I stick to that and will not go above that, there was a time that I allocated lower that amount but I ended up adding more to satisfy my gambling desire, the most important thing is you are comfortable with the amount or percentage and your budget will not harm the family's monthly budget because if you are gambling more than what you can afford to lose, you will end up taking a loan and loans have interest attach to it.

With the right allocation, your family will not have a deficit in what they need and you will enjoy playing, without thinking that you badly need to win because your family is short in their budget.

bluebit25

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Excessive security does not make gambling more interesting, because there are no rules to follow when spending money on gambling games. I might be willing to spend 10% of my monthly income on betting, but of course it doesn't happen often, and gambling doesn't force me to play, and I want to actively seek comfort when in contact with it. But I absolutely believe this strategy's recommendations can be applied to those pursuing this field in a strategic way to bring in new revenue streams. Perhaps this is just a small part of the entire guide to money management here.

Fiatless

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Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

You must have heard 1% strategy in trading, the same can be applied in gambling too and believe me, you will feel a lot more comfortable using this 1% of your money in every game.
This also gives you a lot of games to play before you end up on your money as on every bet you will use 1% of your money. In case you lose all bets, you will be playing 100 games because your money is exhausted.

Having a gambling budget is very important to every player because it would help to reduce uncontrollable gambling which can result in regrettable losses. But in some cases, big winners went above the gambling budget before they won big. Sometimes one might have the hunch to go above his budget because he is moved to do it. This action is what brings big wins. In gambling and every other activity, we know that the higher the risk, the greater the chances of winning big.

But this doesn't mean that you should bet what you cannot afford to lose or take a loan to gamble. It's gambling within your means but occasionally going above your budget.

Quote from: wheelz1200 on November 29, 2023, 06:56:18 PM

Its all dependent on your actual income vs expenses it has nothing to do with a certain percentage. For a billionaire losing 1% or $10million it might not change their day one bit. But for someone who loses $1,000 and males 100,000 a year with a family and massive amount of expenses. That $1,000 might be gbling away a car payment or a mortgage payment. 2 different things.

The 1% strategy is just a suggestion from someone, which means everyone is supposed to have his gambling budget based on income and expenses. To some persons, the 1% is an insignificant part of their income so they can afford to spend it on gambling while others might need to reduce or even increase the percentage.

klidex

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that is good financial management but it seem that not all gamblers gamble with minimal management that gambler will use according to their abilities and in my opinion gambling expenses depend on the income of each individual for example you have a monthly income of $500 and only use 1% which is $5 in my opinion. It's too little for gambler who are used to gambling activities to be able to make a profit from gambling with a capital of $5. In my opinion, it's too little, especially if you want to bet on sport where you only get a small profits and will probably use 3% of your $500 incomed.

However, if your income is more than $500, for example $1000, it doesn't matter because 1% is $10, which means it can't be said to be small (for my local money) and you don't lot of losses and you can make a decent profit (if you can).
so in my opinion it's up to the gambler to conclude no matter how small the expenses as long as they don't interfere with your household need, the most important thing is to be able to manage your finances well and not get too caught up in gambling.

Hirose UK

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Maybe that is the best way to save money in gambling and if we lose then it is not loss for us but with the figure 1% can it really make us feel satisfaction or pleasure because the figure 1% is very small.
If you have large income then this amount might be said to be good enough to use in several game sessions, but for those with a small income, I don't think you will be able to do so.
After all, every gambler has different emotional level, at the beginning it is easy to just use that amount but when you enter half the game the desire or adrenaline appears to bet bigger.
And I sure those rich people out there who like to gamble wouldn't be able to only use 1% of their income to gamble, they would definitely use more money, like 5% to 20% of their monthly income.

So far there are still very few gamblers who are able to have patent limits or actually gamble with what they have determined.
Most gamblers always use extra money to get an edge or have a bigger win if they are lucky.

len01

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I might apply this method but maybe only under 5%, no more, but what we need to remember here is just about how we can commit to plans we have set because emotions and greed always bother us when we want to hold tightly to that commitment and TBH, I even though I have plan before betting, sometimes I can still get emotional and deposit again in same amount.

this means that all of this goes back to guidelines of each gambler on how they can manage their financial needs through gambling and if someone is successful, they are always committed to strictly adhering to the rules that have been determined. I guarantee that gambler is a responsible gambler who is free from the bad risks of gambling.

Yaunfitda

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Quote from: ralle14 on November 29, 2023, 10:00:56 PM

Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game?

Unfortunately, I rarely follow this strategy, because i've mentioned in some of my older posts that I would always go bigger whenever I see profitable opportunities through promotions and contests that I know would give me a slightly risk-free profit.

Same here, it's hard to really box yourself to a certain numbers, we are gamblers, so we take risk that others might not understand. As you have said, like in the NBA that we bet, sometimes we see some underdog that has a good chance to win as per our analysis. So we shell out big money because we have a hunch that who knows we might get big in here. So if we already have like gamble 1% then obviously we don't have the money already as we already used it.

Might be good strategy for others though, as least those who just leisurely played on weekends or only on a few days. But for heavy gamblers who likes to bet at least every other day or everyday for that matter, this strategy is not going to work.

ralle14

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Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game?

Unfortunately, I rarely follow this strategy, because i've mentioned in some of my older posts that I would always go bigger whenever I see profitable opportunities through promotions and contests that I know would give me a slightly risk-free profit.

Plus, I make sure to go slightly above the casino's minimum withdrawal because it sometimes bothers me that I have some money lying around in my casino account, and the safest way to get that money out of the site is to make another deposit and play with the highest win probability to clear the deposit rollover.

wheelz1200

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Its all dependent on your actual income vs expenses it has nothing to do with a certain percentage. For a billionaire losing 1% or $10million it might not change their day one bit. But for someone who loses $1,000 and males 100,000 a year with a family and massive amount of expenses. That $1,000 might be gbling away a car payment or a mortgage payment. 2 different things.

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Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

~

I've seen it before but I rarely try it since I usually don't gamble monthly, lately anyway. It's more like I gamble whenever I feel like it and in most cases, it's around every 2 maybe 3 months. Ofc the amount never goes past a set amount but it's usually more than 1% (or in this case, 2-3%) of my income since it'd be way too low. I usually separate my funds into bills, emergencies, funding, and enjoyment. It usually depends but it's not that odd for me to spend said funds for enjoyment solely for gambling sometimes. I usually play only a couple of games anyway though it might be different during tournament seasons of some of th eSports I watch. Now those I actively bet in.

Baofeng

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Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

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.

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.

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game? This way not only we are safe from losing big amounts but at the same time, we never find ourselves in a situation where we go all in, in some bet and then have the fear of losing all of our money.

You must have heard 1% strategy in trading, the same can be applied in gambling too and believe me, you will feel a lot more comfortable using this 1% of your money in every game.
This also gives you a lot of games to play before you end up on your money as on every bet you will use 1% of your money. In case you lose all bets, you will be playing 100 games because your money is exhausted.

The Lower-Risk Gambling Guidelines

Nah, I don't think that there's a rigid guidelines for gamblers maybe 1% income could be big for some families and that's why they can't afford to bet. But for others 1% is nothing. And as what we have been preaching, just gamble the money that you can afford to lose, that's it, no need to overcomplicated things when certain percentage of whatnot.

Of course everyone should be a responsible gambler, we can't stress that enough. However, different folks, different strokes.

And as gambler myself, I don't have this kind of strategy, just manage your bankroll with or without any percentage and you will be fine.

goaldigger

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Quote from: CryptSafe on November 29, 2023, 03:34:31 PM

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

There’s nothing wrong about being responsible and with this, I can tell that you can be more happy and enjoy gambling knowing that you are responsible enough to deal with this. Gambling can be very risky, and its a good strategy to limit your exposure as much as possible. Again, if you are going to do this make sure you complete everything that you need first before setting up a budget for you gambling activities for the Month, though this is not necessary and it will still depend on how you budget your money.

o48o

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Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

-cut-
Do you guys also follow a similar strategy like gambling with 1% or 2% on each game? This way not only we are safe from losing big amounts but at the same time, we never find ourselves in a situation where we go all in, in some bet and then have the fear of losing all of our money.
-cut-

I have tried this, but problem with this tactic is that statistically you end up making more bets for same gains. If you make 100 bets, you have more changes to get losing bets that end up wiping your winnings. So i changed it to waiting for obvious results in live betting and raising the stakes for them.

When game has been played long enough and other side is winning so hard that' there's most likely not enough time to make enough points for even a draw. Often there aren't any gambling opportunities for bets like that but there always some when i look hard enough and wait. I raise the stakes enough to odds being worth it. Not everything though, as if i end up losing, i still have something left to gamble with

So far this tactic is looking good, but i can totally see some flaws in it that might end my winning streak.

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Quote from: Wakate on November 29, 2023, 03:57:57 PM

Quote from: CryptSafe on November 29, 2023, 03:34:31 PM

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

If we relate what op had explained to sport bets, this would be a big opportunity for us to stay focused and make better profits from betting. Risking just 1% or 2% of our gambling portfolio is a good move for us to stay more profitable in the market while risking less. Gambling has a lot of risks if we don't know how to go about but for those that know how to measure there risk and stay focused with less risks and bigger profit ratio. I have not tried betting with just 1% of my total portfolio but this might be a good move for one to risk little to win more if we can bet on more matches with small stake.

I think betting with such an amount would be very convenient for those with such budget because that is within their strength. This is more of the economic principles of minimising input to maximise profit. Here your gambling bugdet is just 1% of your income for some people it would be a huge amount based on their income level and some too it might be a little fee but all of them is still at their convenient to maximise profit. But one thing I think is their aim is to gamble responsibly irrespective of the win or lose if at all they encounter such, I think their mindset about it is just to gamble for fun.

Wakate

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Quote from: CryptSafe on November 29, 2023, 03:34:31 PM

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

If we relate what op had explained to sport bets, this would be a big opportunity for us to stay focused and make better profits from betting. Risking just 1% or 2% of our gambling portfolio is a good move for us to stay more profitable in the market while risking less. Gambling has a lot of risks if we don't know how to go about but for those that know how to measure there risk and stay focused with less risks and bigger profit ratio. I have not tried betting with just 1% of my total portfolio but this might be a good move for one to risk little to win more if we can bet on more matches with small stake.

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Quote from: yahoo62278 on November 29, 2023, 11:35:01 AM

Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

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.

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.

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game? This way not only we are safe from losing big amounts but at the same time, we never find ourselves in a situation where we go all in, in some bet and then have the fear of losing all of our money.

You must have heard 1% strategy in trading, the same can be applied in gambling too and believe me, you will feel a lot more comfortable using this 1% of your money in every game.
This also gives you a lot of games to play before you end up on your money as on every bet you will use 1% of your money. In case you lose all bets, you will be playing 100 games because your money is exhausted.

The Lower-Risk Gambling Guidelines

No risk no reward. If you are gambling to have fun and make a sporting event a little more entertaining, than this is a decent strategy. If you are looking to make big money, obviously this strategy will not do it for you unless you make a ridiculously big parlay and get lucky.

Well, you have a point, but I don't think the OP is aiming to earn more or a lot; itseems like gambling for fun and to earn, in between, or maybe just neutral, just using 1% of his income, as he said, just to, you know, past time or what. I can't say the exact word. Its like you are betting without hoping to win a lot but still doing it. Every salary comes just in case you hit big, or something like that. For me, I stretched my percentage to 5–10% depending on my mood, but it will never go up to 10% of my salary because even if I don't hope to win in gambling, I just want to have leverage so that if I win, I can earn more because of how much capital I use in a bet. It perfectly works for me; even if I lose that percentage of my salary, it's like nothing to me.

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Quote from: CryptSafe on November 29, 2023, 03:34:31 PM

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

Having this kind of budgeting strategy is always a good idea, this only means that you are being responsible and you really know where to spend your money the most. We know the risk of gambling and by doing this, you are eliminating such risk and you just gamble for fun and not for the profit since it is not guaranteed. You might be tempted to increase this budget though and its fine as long as you are still within the budget and as long as you are just spending your extra money.

Fortify

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Quote from: noormcs5 on November 29, 2023, 07:17:28 AM

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.

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.

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game? This way not only we are safe from losing big amounts but at the same time, we never find ourselves in a situation where we go all in, in some bet and then have the fear of losing all of our money.

You must have heard 1% strategy in trading, the same can be applied in gambling too and believe me, you will feel a lot more comfortable using this 1% of your money in every game.
This also gives you a lot of games to play before you end up on your money as on every bet you will use 1% of your money. In case you lose all bets, you will be playing 100 games because your money is exhausted.

It sounds like another dumb strategy and illusion that some gamblers like to fantasize in their heads. It doesn't change the risk involved in the bet at all, if you lose this buy in amount a hundred times because you take crappy bets, then all you are doing is dragging out your bank roll and it has zero relation to your chances of winning a profit. You are committing death by a thousand papercuts as the analogy goes. You throw around works like "risk free" and "safe" with very little understanding of what these things mean in the context of gambling. There is never anything risk free in the world of gambling your own money, as the house is always seeking to take it from you at their advantage.

Topic: Risking 1% in Gambling - page 28. (Read 4380 times)