Topic: Risking 1% in Gambling - page 29. (Read 4380 times)

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.

Whenever we do speak about bankroll handling then % will really be that depending on you since not all would really be that having on the same approach on how much money they could really be able to afford into each bet. We do have different level of risks tolerance on which it would be just that normal that numbers will really vary because some are really that mindful about protecting their bankroll but there are those people who
do really loves on making that all in kind of betting on which there would really be difference in between gamblers. Basing up on the % on what you are talking which is on playing around 1% to 2 then it would be just that small but we cant deny that this would really be that relevant if the amount or bankroll you do have is big, therefore 1% of that might be giving that significant numbers but if we do speak about few
bucks or a hundred then it would be an another story.

We know that most bettors are really that impatient on which means that they cant really be able to maintain that 1% bankroll betting whici i do highly believe
that this where most bettors would be thinking yet even myself cant really totally make out this kind of betting on which it is something that
give some boredome. 

For me its good in theory but not in practice, there will be time that we will get a consecutive losses and soon or later you will be force to raising the bet amount and forget the 1% theory.
But yeah that is a Money Management and the result might be good for some people.

An if I may suggest, how about if you place a single bet with 1% or 2% of your gambling portfolio and yolo it when the bet won, if it won again then bet another yolo and stop after 3 winning streak.
And if it lose on any stage, always back to the base bet (1 or 2%).

The one percent is not a bad strategy too but I like to think some gambler would argue that this will just make them go with higher risk like playing multiple parley selection to increase the odds to actually get some potential profits in return from their gambling habits but thats for those that are see gambling as something they can make some cash from. Some just gamble for entertainment and will enjoy this particular idea of your better as the risk involved is very low as it's just 1% of your earning and this will not provide any cost for alarm

In my opinion, setting 1% of the money a person earns to be directed towards games seems to me like it could create problems for people, because let's imagine that a person earns 10 million dollars a month, so if that person keeps taking 1% to play , he will be playing with a good amount per month, but if a person who earns $100 per month takes 1% to play he will have nothing. I think that what people need to do is first pay all their household bills and then make a list of the things they will do to have fun and after that the person who likes gambling can take part of the money intended for fun and keep playing

That way the house bills are paid, the other people in the house had fun and he, being the only one involved in gambling, can go play without worrying about winning or losing, because that money that the guy will be putting into the casino is already It is being seen as lost money, so the person plays responsibly and without pressure. The bills for a house are values that vary each month, for example if in month Therefore, it would not be realistic for a person to keep putting 1% towards games or putting a fixed amount towards the game. The less money a person has to gamble, the greater the temptation the person will have to think about making money through gambling, and this will lead to addiction and destruction. It's always good for people to be able to stop playing for a while and then start playing again, this helps a lot in maintaining self-control

Read through the blog post and it's quite interesting. This method of bank roll management will always allow the gambler to have more left over money to save and tackle other financial responsibilities. The only problem would be on the gambler, whether he'd abide completely by such strategy when his games become too fun. Or during more wins. We should also know that winning is also possible, with this type of gambling strategy. The gambler can take advantage and play with his winnings, thereby extending his gambling duration. Yet, reading downwards on the article, I saw a sub heading stating we should gamble only 4 days in one month. Don't know if he really meant 4 days as per 96 hours a month, or just 4 times a month. The purpose of all these is to remain in control of our thoughts while gambling. The way I've noticed gambling affects our brain, is by the remorse we feel after losing money that would have been used to settle financial problem in the household. Hence using his mathematical analysis, everyone can know the actual amount to use for gambling each month. Not to be affected by excessive gambling.

Maybe he's referring to the percentage of his bankroll maybe for a single day or month. Such that he would only bet 1% of that bankroll in each bet in order to prolong his capital and avoid huge loss. However if his aim is to be profitable then small amounts lead to small profit. There are times you would be crossing your tolerance especially if you are having a strong feeling that it would be a winning bet. Well nothing would assure winning hut that simply makes gambling beautiful; you just have to have a sense of control in order to not make your losses continuous such that if you've lost a bigger amount than your usual bet then your next bet should again be your usual than to force things with another big amount because of frustration to get back with what you've lost.

Well, if you are in control of your gambling habit, for sure earning $1000 is not that huge to gamble almost $100 as you have daily expenses to pay, if you are not alone then the  15%-20% would sound possible if you are only taking care of yourself as you can the budget on your own, so you have spare money to gamble. I agree that gambling with just $100 wouldn't be so fun as you could lose it all without having fun with just a few rounds, but we also need to take care of our own responsibility especially if we have a family to feed. You could make your own rules like making your own portfolio to limit yourself to avoid surpassing the amount of money you have, cause still, I believe that once you are gambling, you might not even think with your plan as emotion starts to kick.

For me it's all about the dollar amount ( or bitcoin amount, technically ) and not a percentage, so I'm not sure where I stand percentage wise.  I typically have a set amount that I'm willing to gamble on each game.  If I feel confident I typically bet $25 worth of bitcoin.  If I'm very confident I tend to bet anywhere from $50-100 in bitcoin.  I feel you, I don't take a ton or risk and it's much less stressful.  I don't have huge upside, but I'm okay with that.

That's good, @OP because at least you've reduced the risk of losing with the amount of money you can afford. I also do that, but I don't know what percentage I use. The important thing is that it is money that I can afford and that I also do not exceed the limits of what I can afford. I don't want to spend more money on gambling because I have other needs that I need to meet, so I try to stick to those limits. And I also don't gamble too often because it can cause problems for me. Until now, I am still safe in gambling and have not had any problems even though I still experience a loss of self-control. But I can still control myself well and can stop it immediately.

Yeah it is sometimes like that. Just as setting up a responsible gambling portfolio is demanded not to exceed our gambling limit, it is better a minimum percentage is left over than always staying to maintain the mentality that.... I just have to empty the remaining funds in the portfolio since it has been already been projected for gambling and I can still refill again.

Sometimes taking breaks on gambling help one to minimize risky stakes and looses by abstaining from the gambling tables.

But at OP, the truth is that it is hard gambling with just 1% of your gambling portfolio because it is mentally otherwise that you never gambled. And the negative effects of staking your gambling budgeted portfolio is that sometimes ahead of time you might be  inspired that you have more than as usual staked in your portfolio which eventually would caused you  gambling without realizing you are loosing because you may otherwise say.... Let the go after all it was already set for it and would had even been lost long ago but nevertheless, it is encouraging to safe more on your gambling portfolio budgets than lives to emptying even when it doesn't yield you winnings. That is usually how gamblers looses their funds and says it is a fun game

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.

That is exactly what I am doing, except I use 10% of disposable income. After taking care of bills and saving some money aside, whatever is left is 10% gambling max. and 90% for other. So from a perspective of the entire income, I would say no more than 5%. Furthermore, I restrict myself on a daily limit. The formula is simple, you just divide your 1-5% gambling funds by the number of days in a month. So its like 1/30th of 5%.

But this strategy really needs discipline on the gamblers side. Otherwise it does not work, for example: the gambler is feeling lucky or frustrated and decides to randomly add more to his gambling funds even though he is over the max daily limit.

Here in the gambling section of the forum, we have talked about what the suitable percentage for anyone of us to wager is, compared to our household income. During such debates there is people who throw numbers of all kinds, some say 2-5% is okey, while others dare to be venture into double digits and get to 10%.
I would say 1% is pretty safe for most people and it is a percentage which (while respected) should not translate to massive loss or economical problems.
By the way, when I first read this thread I thought you mean wagering using a favorable risk of 1%, instead talking about budget.

"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."

This is not risk free. But this is a type of bankroll management strategy. Typically people call this units. You bet X amount of units on games, so that you're not going all in on something.

Although it is economical to use 1% of your income to gamble, it shows you are prudent in your finance but I wonder how much percentage you will win since the bankroll may be small depending on your salary. However, if the winning is steady, it increase your bankroll to go a little higher. But to gamble with family money has to be in agreement with members of the family so that when you lose out the 1% from the salary, you won't have any explanation to do to your wife since she is already aware you are risking 1% out for gambling.

Despite this strategy of 1% working for some people, I prefer to stick with the percentage that has always produced results for me, the 2%- 5%. And when I win, I withdraw, 90% of the winnings. The one left in the wallet is the 2% -5% for wagering again. I never try to cross the 5% benchmark outside of that is money that I know I cannot afford to lose. If the 1% works for you, fine and any newbie can take a cue from you if they are looking for where to start with the percentage of their income they are willing to risk.

Many times I lost after trying to go beyond a high percentage of total gambling and I believe that a 1% budget is still very ok and lower the risk at all time,  some time what leads to a lot of losses,  so for that we need to put every possible measures in place that will guarantee us a safe and secured winning at the end of the day.

So for such, there is a need to set a lower leverage that guarantees us a lower risk and higher chances of winning the bets or making profits in trades as the case may be.

I don't think I could ever do that on a consistent basis. I don't even see the point of "gambling" with 1% in every game. That's more like you paying for an entertainment similar to watching some movies or just spending to kill time since you got nothing else to do. The only gain I see here is collecting some points to level up your account and get some perks or rewards.

1% isn't a lot and it looks to me like if you do allocate this for your gambling habit, you will probably end up having to end your games unsatisfied because I assume that that's not a lot of money and you will likely to end in a lose which leaves you frustrated too since the Gambler's fallacy within you is going to act up and then you will end up having to bend your promise of spending just 1% of your income to gambling which will snowball to 5% then to 10% until you go beyond the tolerable amount. For me, it's best if you don't do percentage when it comes to budgeting, set a real amount so your mind is tricked into not going overboard.