Your betting budget

[Adzivu]

From my experience (and I have a lot of it) that isn't bad.
They are not just my own bets, but also bets from other good and reputable tipsters that are beating certain league.

So i don't agree with you when you say you shouldn't follow others.
There are plenty of good and profitable tipsters.

I also have my share of experience with certain tipsters. I don’t claim to have a lot of it, but I have followed a few guys when I was younger. What I noticed is that the win rate is usually around 50-55%. That's not exactly great. And you have no way of knowing if the results of the tipster you follow will be good or bar in that particular month and period you paid for. If they have built a certain reputation, they usually require that you pay to receive the tips, and that can amount to a few hundred dollars per month as well.

I still think doing your own research and betting only on the sports you have some knowledge in beats blindly following anonymous people over the Internet. Since we are on a Bitcoin forum, I can draw a comparison with following a crypto trader and doing the same trades as he does. Not exactly the best way to invest.    

55% winrate at average odds 1,85 give you already 2% yield. I'm happy with that in the long run.
 That's why you don't follow a guy with a low sample size. 100+ picks over a longer period of time is a must to see if someone is profitable or not.

There are a lot of specialized sites/portals for sports betting tipsters.
Most of the good ones cost some monthly fee.
Some of them have options to automatically copy their bets but most don't so you have to place them manually.

Obviously in lower liquidity markets odds crash faster.

I am always a bit cautious of free sport betting tips from the Internet. It is hard to tell how reliable they are and most of the time there is no real tip history that shows us how the tips performed in the past. If we can make money of the tips then paying a monthly is fine. I just don't understand why people aren't using their tips only for themselves and their friends and family? Because the more people follow their tips the lower the payout is going to be.

Well, free is also good sometimes.
Most of them had free service at the beginning to establish themselves.

There are a lot of specialized sites/portals for sports betting tipsters.
Most of the good ones cost some monthly fee.
Some of them have options to automatically copy their bets but most don't so you have to place them manually.

Obviously in lower liquidity markets odds crash faster.

What is the connection to the topic mate? sorry but OP is asking aBOUT THE budgeting and not about the per paid tipster.

though there are only few that uses this service because not just because it is expensive , other gamblers choose to find their luck than cheating.

Why are you so bitter?
I asked a question, got a response and a question and responded to it.

If you consider paid tipsters cheating then I would recommend you to read more about that whole industry.

Where can I find those tipsters?
I'd appreciate if you could point me to their threads or whatever.

Thanks.

There are many of them if you just search through the pages on this section. A few years ago, there really are a lot of those tipsters giving their day to day tips for free.
But they seem to offer more if you're going to pay them with their special group outside the forum but those free tips were already fine.

Is there actually a platform that is similar to all this social trading stuff that is currently going through the roof?

I can imagine if you have such a platform and there is a guy who is betting with above average results that people would follow like they do on social trading websites. Or is the problem that when many people bet on the odds of the superior guy that the odds are always adjusted in a way that the edge will be lost?

Here is the question I responded to. I didn't use quotes because my post is right after the post above and I consider it an answer to that post, not any other in this topic.

[1713461898]

1713461898

[1713461898]

1713461898

[KTChampions]

I also have my share of experience with certain tipsters. I don’t claim to have a lot of it, but I have followed a few guys when I was younger. What I noticed is that the win rate is usually around 50-55%. That's not exactly great. And you have no way of knowing if the results of the tipster you follow will be good or bar in that particular month and period you paid for. If they have built a certain reputation, they usually require that you pay to receive the tips, and that can amount to a few hundred dollars per month as well.

I still think doing your own research and betting only on the sports you have some knowledge in beats blindly following anonymous people over the Internet. Since we are on a Bitcoin forum, I can draw a comparison with following a crypto trader and doing the same trades as he does. Not exactly the best way to invest.    

55% winrate at average odds 1,85 give you already 2% yield. I'm happy with that in the long run.
 That's why you don't follow a guy with a low sample size. 100+ picks over a longer period of time is a must to see if someone is profitable or not.
~

Firstly, there is indicated a range with an average value of 52.5%, and even with a coefficient of 1.85, such forecasts are unprofitable.
Secondly, where did you get that there were forecasts for such large coefficients? Perhaps these were predictions with odds of 1.5 - 1.6 or lower "guessing" which with such a probability is very easy (but not profitable).

[Adzivu]

He mentioned that he found guys with 50-55% winrate, I just said that mathematically 55% winrate at average odds 1,85 makes you profit long term with flat stakes.

Blogabet . tipstertube, pyckio are some of the sites where you can compare tipsters with verified stats.

1,85 is not "large odds" it's "industry standard" for most of the guys.

[Woodie]

I have never put gambling on my budget because this feels like you always be gambling, probably becoming an addict too.
 I think I don't go big with gambling such that your income is all redirected to gambling. All I do is work with a fixed amount I set aside to play with as my safety  net to avoid over spending.  By the way I have cut down on gambling because my losses are catching up with me, the house is just too good looking for something more profitable.

[goinmerry]

1,85 is not "large odds" it's "industry standard" for most of the guys.

I agree with that standards.

The range is starting from 1.7 to 1.9. For x2 or 2.0, somehow it adds some more risks.

He mentioned that he found guys with 50-55% winrate, I just said that mathematically 55% winrate at average odds 1,85 makes you profit long term with flat stakes.

Actually, that win rate is low especially if we are talking about sports betting.

A good winning rate should be at least 60%-70%.

[Adzivu]

Ask anyone that is betting and they'll tell you they are happy with 6% yield. Anything above that is extraordinary.

[sempak]

Of course I always set limitation, amount limitation to my budget. I only seek fun so if I have some profit from gambling I save it to my gambling budget in that way I have more gambling budget and I only refill it whenever it reaches 0 for example this month I have 0 balance then I fill it up around $1000 that's for whole month then of course I divide it by day.

This kind of budgeting strategies would also help you to be a responsible gambler and lowers the chance of being addicted to gambling since you control yourself.

[Natalim]

Of course I always set limitation, amount limitation to my budget. I only seek fun so if I have some profit from gambling I save it to my gambling budget in that way I have more gambling budget and I only refill it whenever it reaches 0 for example this month I have 0 balance then I fill it up around $1000 that's for whole month then of course I divide it by day.

This kind of budgeting strategies would also help you to be a responsible gambler and lowers the chance of being addicted to gambling since you control yourself.

Great job, discipline is very important in gambling, you manage the risk by strictly following your budget and you should not go beyond your budget. Being responsible will make you in control all the time and you'll never lose control that would result to betting big amount that you'll only regret when you lose.

Gambler's life will only be ruin because if their bad decision making.

[KTChampions]

Of course I always set limitation, amount limitation to my budget. I only seek fun so if I have some profit from gambling I save it to my gambling budget in that way I have more gambling budget and I only refill it whenever it reaches 0 for example this month I have 0 balance then I fill it up around $1000 that's for whole month then of course I divide it by day.

This kind of budgeting strategies would also help you to be a responsible gambler and lowers the chance of being addicted to gambling since you control yourself.

Do you really play every day? In my opinion, this is an obvious sign of gambling addiction and you really should worry about it. In any case, it's good that at least you can discipline your gambling spending. And if it's not a secret, how long have you been gambling on such a schedule (almost every day or every day)?

[panjul07]

Of course I always set limitation, amount limitation to my budget. I only seek fun so if I have some profit from gambling I save it to my gambling budget in that way I have more gambling budget and I only refill it whenever it reaches 0 for example this month I have 0 balance then I fill it up around $1000 that's for whole month then of course I divide it by day.

This kind of budgeting strategies would also help you to be a responsible gambler and lowers the chance of being addicted to gambling since you control yourself.

Do you really play every day? In my opinion, this is an obvious sign of gambling addiction and you really should worry about it. In any case, it's good that at least you can discipline your gambling spending. And if it's not a secret, how long have you been gambling on such a schedule (almost every day or every day)?

Gambling everyday can be considered as an addiction but not all who gamble everyday are addict.
Those who gambler every single day but they are able to manage the time and money well, I can say they are not addicted.
Lets say he is gambling everyday but he has can start and stop his gambling session wisely each day, I would say he is smart gambler instead of an addict.

[Fredomago]

Gambling everyday can be considered as an addiction but not all who gamble everyday are addict.
Those who gambler every single day but they are able to manage the time and money well, I can say they are not addicted.
Lets say he is gambling everyday but he has can start and stop his gambling session wisely each day, I would say he is smart gambler instead of an addict.

Good case, is that similar to an experienced gamblers who can managed to milk out some cash from the house?  it's possible that due to experienced and good money management this kind or type of gambler exist.

They are into gambling with a system that allows them to win some and quit or to lose some then stop. Money management or bankroll managements are always the topic for each gamblers to avoid heavy addictions, you needed to have a good control with your emotions
and keeps on taking advantage with some luck behind you while you are in-play.

Maximizing some luck and quit in an earlier stage and manage to stay out to keep some winning or to stay at a smaller amount of losing.

[stomachgrowls]

Of course I always set limitation, amount limitation to my budget. I only seek fun so if I have some profit from gambling I save it to my gambling budget in that way I have more gambling budget and I only refill it whenever it reaches 0 for example this month I have 0 balance then I fill it up around $1000 that's for whole month then of course I divide it by day.

This kind of budgeting strategies would also help you to be a responsible gambler and lowers the chance of being addicted to gambling since you control yourself.

Do you really play every day? In my opinion, this is an obvious sign of gambling addiction and you really should worry about it. In any case, it's good that at least you can discipline your gambling spending. And if it's not a secret, how long have you been gambling on such a schedule (almost every day or every day)?

Gambling everyday can be considered as an addiction but not all who gamble everyday are addict.
Those who gambler every single day but they are able to manage the time and money well, I can say they are not addicted.
Lets say he is gambling everyday but he has can start and stop his gambling session wisely each day, I would say he is smart gambler instead of an addict.

People who do indeed gamble on daily basis could really be considered to be a gambling addict and not for those people who do play on weekends or casual basis.When it  comes to budget  then this would really be varying

on someones financial capacity because not all would really be having that big income or assets or savings for them to spent out on gambling and some are just really that keen on spending into entertainment.

My budget would be only in  between 5-10% overall in my monthly salary and i do play occasionaly or into those times which i do see that theres some interesting games that i do love to bet on.

[Smartprofit]

Of course I always set limitation, amount limitation to my budget. I only seek fun so if I have some profit from gambling I save it to my gambling budget in that way I have more gambling budget and I only refill it whenever it reaches 0 for example this month I have 0 balance then I fill it up around $1000 that's for whole month then of course I divide it by day.

This kind of budgeting strategies would also help you to be a responsible gambler and lowers the chance of being addicted to gambling since you control yourself.

Do you really play every day? In my opinion, this is an obvious sign of gambling addiction and you really should worry about it. In any case, it's good that at least you can discipline your gambling spending. And if it's not a secret, how long have you been gambling on such a schedule (almost every day or every day)?

Gambling everyday can be considered as an addiction but not all who gamble everyday are addict.
Those who gambler every single day but they are able to manage the time and money well, I can say they are not addicted.
Lets say he is gambling everyday but he has can start and stop his gambling session wisely each day, I would say he is smart gambler instead of an addict.

People who do indeed gamble on daily basis could really be considered to be a gambling addict and not for those people who do play on weekends or casual basis.When it  comes to budget  then this would really be varying

on someones financial capacity because not all would really be having that big income or assets or savings for them to spent out on gambling and some are just really that keen on spending into entertainment.

My budget would be only in  between 5-10% overall in my monthly salary and i do play occasionaly or into those times which i do see that theres some interesting games that i do love to bet on.

10-15 percent of your salary is a normal gaming budget.  No more highlighting. 

I recommend purchasing a special bank card and making a deposit exclusively from it.  This will systematize the process.  If you managed to win this month, then do not increase the budget for next month. 

It is better to spend this money on your family - buy candy and ice cream for the children, and fruits and flowers for your wife. 

Reinvestment can be beneficial in business.  However, in gambling, such an action does not make sense. 

You play for fun. 

Your goal is not to make a profit.

[Kong Hey Pakboy]

I have never put gambling on my budget because this feels like you always be gambling, probably becoming an addict too.
 I think I don't go big with gambling such that your income is all redirected to gambling. All I do is work with a fixed amount I set aside to play with as my safety  net to avoid over spending.  By the way I have cut down on gambling because my losses are catching up with me, the house is just too good looking for something more profitable.

You should put it in my opinion because it helps you to be mindful of how much you're spending when you're gambling. You are on the right path already, you have a fixed amount but at the same time you should record what's happening to help you much better in terms of managing your money.

[Cryptmuster]

10-15 percent of your salary is a normal gaming budget.  No more highlighting. 

I recommend purchasing a special bank card and making a deposit exclusively from it.  This will systematize the process.  If you managed to win this month, then do not increase the budget for next month. 

It is better to spend this money on your family - buy candy and ice cream for the children, and fruits and flowers for your wife. 

Reinvestment can be beneficial in business.  However, in gambling, such an action does not make sense. 

You play for fun. 

Your goal is not to make a profit.

As a rule, betting leads to a loss of funds over a long period of time, so it is better not to get carried away with large amounts of bets, which will almost always lead to the loss of large amounts. It is better to have a small budget and try to increase it, if possible, then you can play for an increased deposit and see what happens to it over time, whether it increases or decreases.

[junmisakiro]

I kind o like feeling in control of my finances and that means controlling my spending and being very aware of what goes in and what goes out. I normally check my accounts every month and may make a few decisions on what to spend next month if things are not looking correct. One of the things I do is to set aside 10% of my income for things that I really do not need - expensive clothing, gadgets and electronics, books, games,... and part of that is gambling. For me, a reasonable gambling budget is 3 to 5% of my income, although I may allow more if I have some extraordinary income that month. How do you plan your gambling or fun budget?

I had previously set a percentage with a monthly income, but unfortunately the decision only lasted for a short time because I couldn't control my emotions completely when the game was exciting, which prompted my intention to deposit again and again, even though I realized that in the long run I would lose everything, if I keep doing stupid things like this.

[DU18]

I kind o like feeling in control of my finances and that means controlling my spending and being very aware of what goes in and what goes out. I normally check my accounts every month and may make a few decisions on what to spend next month if things are not looking correct. One of the things I do is to set aside 10% of my income for things that I really do not need - expensive clothing, gadgets and electronics, books, games,... and part of that is gambling. For me, a reasonable gambling budget is 3 to 5% of my income, although I may allow more if I have some extraordinary income that month. How do you plan your gambling or fun budget?

I had previously set a percentage with a monthly income, but unfortunately the decision only lasted for a short time because I couldn't control my emotions completely when the game was exciting, which prompted my intention to deposit again and again, even though I realized that in the long run I would lose everything, if I keep doing stupid things like this.

This has happened to me, but because of the current economic pressure, it makes me really have to take care of my finances and one of them is by reducing the amount of my allocation of funds for gambling, so far I have spent almost $80-$100 for do gambling in a week but now I only spend about $20-$30 a week, at first it was very difficult to do because it was a fun factor as you said but of course I have to put that aside in order to maintain my family finances, and I'm sure if you make a family as an impetus to stop it of course the possibility it will work in my opinion.

[KTChampions]

Do you really play every day? In my opinion, this is an obvious sign of gambling addiction and you really should worry about it. In any case, it's good that at least you can discipline your gambling spending. And if it's not a secret, how long have you been gambling on such a schedule (almost every day or every day)?

Gambling everyday can be considered as an addiction but not all who gamble everyday are addict.
Those who gambler every single day but they are able to manage the time and money well, I can say they are not addicted.
Lets say he is gambling everyday but he has can start and stop his gambling session wisely each day, I would say he is smart gambler instead of an addict.

I have big doubts about this 
Of course, a lot depends on how long it takes and if the period is short, then this does not mean anything, but in most cases if a person was able to arrange his life in such a way that he has the opportunity to do something every day, then this suggests that he has a lot of addiction to it.
By the way, when I read your message, I remembered one anecdote: A fan of smoking weeds says
- How good that marijuana is not addictive! I'm smoking for five years every day, but I can quit at any time!
 

[michellee]

I kind o like feeling in control of my finances and that means controlling my spending and being very aware of what goes in and what goes out. I normally check my accounts every month and may make a few decisions on what to spend next month if things are not looking correct. One of the things I do is to set aside 10% of my income for things that I really do not need - expensive clothing, gadgets and electronics, books, games,... and part of that is gambling. For me, a reasonable gambling budget is 3 to 5% of my income, although I may allow more if I have some extraordinary income that month. How do you plan your gambling or fun budget?

I had previously set a percentage with a monthly income, but unfortunately the decision only lasted for a short time because I couldn't control my emotions completely when the game was exciting, which prompted my intention to deposit again and again, even though I realized that in the long run I would lose everything, if I keep doing stupid things like this.

It shows to you that you need to learn about controlling yourself and not getting emotions in gambling. Maybe you can set your budget and trying not to break that limit and if you lose all of that budget, you need to stop gambling as soon as possible and not even think to deposit or borrow money from others because you can get into trouble soon. From what you say, I suggest you not to playing gambling for a long time because you can deposit more money if you lose and you will hard to stop.

[kkaroul4]

It depends if I don't have expenses for the current month, I increase my gambling budget and sometimes I get my expenses from my betting budget if I managed to win. This is really a nice discussion since trying to budget your fund in gambling is one of the really important things since it will let you be a responsible gambler.