Topic: Your betting budget - page 22. (Read 4971 times)

In order to have fun while gambling the first thing to do is limiting our daily,weekly or monthly budget for it and never crossing the line (depositing more to play more).I personally use a monthly bankroll and even if I lose it in a day I stay true to it and don't play until next month,this happens rarely when I play slot machines but when I play sport betting I usually make it to the end of month by betting small increments everyday in sport betting.In the end it all comes to how disciplined you are at managing your finances,there is no exact formula to this.

I also do that but I really don't have a definite budget of how much money to deposit, but even though I don't have management I remain disciplined if the deposit money runs out quickly then I don't make deposits again. Usually I will make another deposit on another occasion but more often than not I will just continue to play the initial deposit that has not been used up, because I try hard to continue to make a profit then it will also be good for us not to always make repeated deposits.

First of all, I manage my poker bankroll for a long time independent of my formal income, it is self-managed.

In the case of crypto casinos, it is fascinating how you can dilute between 8 decimal places to efficiently manage your banking or how you distribute your ammunition (bet).

That is the difference, the big difference, 8 decimals vs 2 decimals(Fiat), it is not the same to make minimum bets of $ 0.01 with $ 100 to having the possibility of diluting those $100 in 8 decimal.

I sometimes make bets of $5, $1 but the average after a year of growth in what I call traditional games is around $ 0.1 to $ 0.001 but in my beginnings I started with 0.00000001 or what I proclaimed as my right to bet 1 satoshi.

The point of all the above is that over time you should not, no, you should not take external money or designate money from your formal income for your bets, over time you must learn to self-manage your income and start building a bankroll that allows you to sustain losses and even use that money for deposits in other casinos or even take the opposite direction that you propose, 5% for candies.

Be careful, all this at a recreational level, self-management, that is the famous bankroll, the less times you take money out of your personal budget for your bets, you are achieving the goal of winning.

That is why crypto bets are great to make your money work, patience, not everyone is entertained by betting $ 0.001 but if they are excited by $ 1 and here the other key, because it is not 3%, 5% of your budget, the size of your bet must be well defined because it is intrinsic in that "real" percentage that you assign to start building your bankroll.

The assignments of 3%, 5% can be a placebo effect that leads to losses in your budget.

It is really something very individual to determine what % to use in a "beginning" but the important thing to know is that you cannot be assigning amounts monthly unless you are a professional player, so it is the opposite.

Betting allocation is very important if you don't have this, you are going to lose control of your betting the key element on betting allocation is moderation you have to be moderate on your gambling time and money that allocate and on your money that you can lose, stay within your budget, I', also doing this and it all depends on the money coming in, I'm not adding more that I can't afford.

It turns out that we have the same amount of budget for gambling, I also provide $100 for gambling capital for one month. I did provide the $100
from the rest of my income for a month, if it turns out that in a month I have an urgent need, sometimes I reduce my gambling budget. Because
for me, gambling is only for entertainment, not an activity that must be done. So I also only play gambling on weekends, where I have a lot of
free time. By limiting my gambling budget, it prevented me from becoming addicted to gambling. If in two weeks my budget runs out,
then I will stop gambling and wait until the beginning of the month again.

I can only afford to gamble $100 below for a month and this is already enough for me to have fund, sometimes I was able to earn money but most of the time I lose it but that's ok because that is already budgeted and the purpose of that money is for gambling only. Having you budget can help you decide on whether to continue gambling or not, but if you do go beyond that despite of having a hard time with your finances, then I can say that its addiction and you should ask for a help as soon as possible.

After separating my expenses, the important ones. I have myself around 5%-10% from the total budget that I've got but I won't how much is that. And if luckily there is some amount that's spared with that percentage, I can have myself around 1%-2% of that cut and it's not that much compared to those gamblers that have made huge with gambling and are now allocating bigger budget and cut for their continuous activity because they've been lucky on it. That's how it goes, once you go lucky, you'll think that you'll still be within the next tries.

Most of us have a budget for entertainment, and gambling is no different. Of course it's not fun to think about money management, but setting and sticking to a gambling budget is a must. We all need to decide what we can afford to lose before we start playing. If you can't afford to lose, then don't gamble.

My personal gambling budget depends entirely on my mood and my goal. Setting a high goal helps me accomplish what I want, but I also need to be mindful that I have a family to provide for and I cannot gamble away more than I earn.

I would go for the net monthly income, that's after your expenses like loans, utility bills, your credit cards and etc.. What the net income, that should be the basis, but then, that's just for me as I am more careful in managing my funds especially this time that we are in a pandemic.

^ This is a very reasonable amount to gamble, I even gamble more than this maybe sometimes it is 10% and it depends if I like the games. Because sometimes when there is a game that gives me more entertain me well. I spent a lot on it my money especially if this is something new for me. There is nothing wrong with spending even 30% of your monthly income sometimes if this amount is the amount that you can afford to gamble. For me, it is like a gift to myself when I enjoyed it so much no matter how much I spend money.

I have a fixed price - it's is 100 dollars per month. Despite i like poker most of all, because i have now a lot of work and not so much time, i'm spending it mostly betting. It wise nice with euro 2020, where i've won a lot of money with my correct bets.

Percent of income it's not so good for me, mostly because of the fact that it will be a little bigger than my fixed budget 

This pandemic requires us to minimize spending and I do that by using only a small amount of money to bet...

if I bet football I don't limit the number of times I have to bet on my favorite team I just always limit it to no more than $ 75 of my capital/month. I have a family and I really need to save on that.

For leisure time then i dont spend up too much because when i do only have extra money to spend then thats the time i do consider on doing gambling.
Money spent or used will vary or depend on my mood and my emotion because sometimes im way too impulsive and sometimes i do really have that control.
Its true that budget will really be different just like what others said because we do have different capacity in terms of finances or money to spent.
Some are mindful on their money and some doesnt really care.

Having that residual money and use it for pleasing your desire, fair enough just the if you use it to watch movies or drink out with your friends.

I usually use spare money from my campaign, though not really into gambling anymore just some bets for NBA as it's really adding  fun and enjoyment when you watch the game and knows that you have some bet for the team you love.

Such percentage is still on the high side except you are an addict. Keeping it low around 1 to 3 percentage is rather better but it shouldn't go pass that. You said you may add more if your income is higher, this can lure you to keeping betting if you are losing. To be a better gambler is to be discipline on it.

I don't have a percentage that I spend on gambling, for me gambling is fun, and when I want to have fun I always gamble.

But unlike most people I see, I always make a fairly small but regular deposit (when I want to have fun).

Btw, lately I like to play on Rollbit in Their X-Roulette game, with my small deposit I can multiply it up to 1000x

For gamblers, it would be best if you have two accounts: a primary account for daily needs and a secondary account for entertainment. You can control the secondary wallet, but someone you trust, e.g., your wife, should control the primary wallet. You can allocate like 10%-20% from your monthly income into your entertainment wallet. Sometimes, you can build your wallet balance from winnings so you can have more money in the next playing session. Sometimes my deposit can worth 100% of my income, but it doesn't mean all of my paycheck for that month went to the casino. You don't have to worry about becoming homeless if you use this method, and you won't have the hassle of keeping records.

I spend about 20% of what I earn on my gambling subscription campaigns.

If I'm lucky (or able) to win well in one month, I usually bet less in the following weeks or months, becaus I use the value of my achievements to bet again.
I never had the intention of making money with gambling, and I also only bet on what I like (usually football games), so I always reverse what I earn in new bets to reduce my spending on games and save more bitcoins from campaigns of subscriptions.

That's what I call financial awareness, very nice. I have a similar system, I always track my income and expenditures. I don't have the exact column for "gambling", and I don't calculate the exact % of the income I will spend on it, but I always have some residual money, which I spend on "fun". On average, I think that's also about 10% of my income. Sometimes it can be gambling, sometimes traveling, or hanging out with friends, but I never spend on gambling with resulting lack of money.

I have no specific budget but on a monthly basis I spend around $100-$200 sometimes more if there's a good promotion where I could get more profit just by increasing my bet size. Back then I used to have a smaller budget when most casinos had lower minimums due to the bitcoin price.

I gamble during the night as well but it's only because most of the sports I bet on is scheduled to kickoff during the night.