Appropriate percentage of income for gambling

[DoublerHunter]

I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?

I don't think there is any good answer the way that question is structured.  If you make $100k a year but your bills are 100k a year then 0% shoukd go towards gambling.  On the flipside if you only make 40k a year and your bills are only 5k or something small a large percentage can go towards gambling.  The right answer is no matter how much money you make only gamble with what you are willing to lose and that doesn't dig into your life's bills

^ I agree and the big question is how much money should be allocated towards gambling depending on various situations, such as one's income, expenses, and personal priorities. It is very important to consider the overall financial picture and not solely focus on the income aspect. For instance, if someone earns $100k per year but has bills amounting to the same value, it would be unwise to allocate any percentage towards gambling. Just because if someone earns $40k per year and has relatively low expenses, they probably be able to allocate a higher percentage towards gambling if they choose to do so. However, the key principle remains the same for me, only gamble with an amount that you are comfortable losing and that does not compromise your financial obligations as I said early, there is no appropriate percentage for gambling activities.

[milewilda]

I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?

I don't think there is any good answer the way that question is structured.  If you make $100k a year but your bills are 100k a year then 0% shoukd go towards gambling.  On the flipside if you only make 40k a year and your bills are only 5k or something small a large percentage can go towards gambling.  The right answer is no matter how much money you make only gamble with what you are willing to lose and that doesn't dig into your life's bills

^ I agree and the big question is how much money should be allocated towards gambling depending on various situations, such as one's income, expenses, and personal priorities. It is very important to consider the overall financial picture and not solely focus on the income aspect. For instance, if someone earns $100k per year but has bills amounting to the same value, it would be unwise to allocate any percentage towards gambling. Just because if someone earns $40k per year and has relatively low expenses, they probably be able to allocate a higher percentage towards gambling if they choose to do so. However, the key principle remains the same for me, only gamble with an amount that you are comfortable losing and that does not compromise your financial obligations as I said early, there is no appropriate percentage for gambling activities.

Lots of factors or things which are entirely different into each person when it comes to priorities and other spendings on which they should really be minding on prioritizing. There are some who dont spend much and there are some who do have lots of payables on monthly basis on which it is really just that right that they would really be giving priority into those things rather than on spending it on gambling which its never been that a wise move to be done. If possible then why would really be needing on making yourself that obliged on spending money on gambling? if you do see that you do have other priorities then it would really be that
just right that you should focus into something important but having some spending on leisure times isnt bad either as long you do have that moderation on your spending then it wont really be that bad after all.
Use the money which you can afford as always on which 5% would be ideal or not really necessary on these numbers or even it must be more lesser.

[seleme]

There is no concrete number we should think it is the appropriate percentage to gamble with it, IMO. If you feel it is time to have fun on casino platforms, then go for it and never limit yourself to some percentage unless you can't afford it at all. Maybe you will be lucky and that slot you play will hit the max multiplier on the bonus round. Well, it is still under the question but we are sure it is matter of time and luck it will pay your something big once.

[famososMuertos]

Well... It's relative, since first of all someone doesn't always use the money from their income to gamble, which is a big mistake, actually coming from someone (OP) who always writes about addiction, it's best to say 0 % and in fact if you can, you should keep it that way.

In my case it is 0%, I never use money from my main income to bet, the day it happens it would not be good, one should use extra money, maintain an income elsewhere and from there even dispose of whatever percentage.

[Slow death]

I believe that people before thinking about spending 1% or 12% of their weekly income, they first need to look at the priorities they have in real life, how much they are going to spend and after paying all the bills, they should see how much money is left for fun, and in this part of fun, people select for example: 10% for walks, 10% for beers or wines in some bar, 20% to go watch the games live in the stadiums, 10% for games of aza, and when doing that the percentage allocated to gambling will vary due to the cost of living rising, food prices are expensive, gas is expensive, electricity and water are expensive

so the trend will be an ever-increasing reduction in the amount allocated to gambling, so saying that I use 5% or 10% is something I can't say, my value depends on what remains after I pay my bills, but when I earn and profit so my bankroll increases and even then after I pay the bills and have money left over to play I add it to my bankroll, with the monthly bonus they allow me to play for a long time without having to damage my accounts, because I play for fun and I do very strict money management

[TelolettOm]

There is no concrete number we should think it is the appropriate percentage to gamble with it, IMO. If you feel it is time to have fun on casino platforms, then go for it and never limit yourself to some percentage unless you can't afford it at all. Maybe you will be lucky and that slot you play will hit the max multiplier on the bonus round.

Even if no concrete number, we can assume the limit of our budget. As long as you use the money that you can afford to lose, it means you still limit the amount of money on gambling. It is just nonsense if you really don't limit the percentage of money to use. Moreover, if you think more money to use that can increase the chance of your luck. At the end, it will lead you to huge losses and you just realize it when you have spent all your money. You must understand that limiting the budget is the preventive way to avoid the severe losses.

[Chikito]

I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?

It's hard to calculate for people who rarely play gambling weekly like me. but when I accumulate what I get in a month, not more than 10% (2.5% weekly). but the benefits can be more than that, for example when I bet $10 a month, I can get $30, but not continue it like you, unsustainable, because of my busy work that is often out of town, I don't have much time to frequently gambling.

[Fivestar4everMVP]

I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?

Well, I think this is not something that is or should be generalized, it is more of an individual thing, since we all earn differently, what I earn in a week may likely or exactly not be what you mean, you may earn higher or lower than I do Weekly, so as such, if we are to both set aside 5 percent of out weekly earning for gambling, your 5 percent might not be the same as mine, if you earn more than I do, removing 5 percent may still leave you with alot of extra money to spend, and for those that earn lesser, 5 percent might mean a lot..

So what I am driving at is that, there is no specific percent that is generally OK to set aside for gambling, it is everyone according to their level of earning., some do 2 percent, some do 3, some do 5 percent, whole some do 10, it all depends on how much one is making per week.

[maydna]

~snip~

This seem the same here. It all varies on the circumstances of the bet for the previous week. If the loses are consistent then I could reduce and take a break. Of course the winning is not always guaranteed so it is better to take precautions. Sometimes I keep it around 2% , it fluctuates and not steady. If there are financial obligations to meet up to then I could reduce the betting expenses or not bet for the main time until I have the amount to bet without regret.

It's great if you can adjust the funds to gamble every week or every time you want to gamble. Not many people can do it so it is an advantage for those of us who can manage the amount of money to gamble. We must try to stay on track to avoid overdoing it in gambling. And it is true that if there is a financial obligation, we must put it first and postpone gambling because we can gamble whenever we want. Don't let gambling make us forget to fulfill our financial obligations because that will get us in trouble.

[Helena Yu]

You just said your income per week is not high. So why will you make your maximum percentage for gambling to be 10%? Don’t you think it’s going to affect you, since your income is not really much, then you should also make the amount you are gambling with to be very low so that you will be able to do other things with money. If your income is high, then I won’t care about the amount you spend on gambling, but if your income is low then you have to be very careful with the amount you are gambling with.

A gambler who get rekt isn't only the poor, so regardless how much they earn in a month, any gambler need to allocate how much they can afford to lose in gambling. Let's say @retreat only earn $500/month and he need to spend $400/month for his daily needs, so he still have $100, he can allocate $10 for gambling and $90 to save. But what if there's a rich person who earn $100,000/month and he only need to spend $400/month, but he gamble the rest of his money $99,600? this would ruin his life.

[Kemarit]

There is no concrete number we should think it is the appropriate percentage to gamble with it, IMO. If you feel it is time to have fun on casino platforms, then go for it and never limit yourself to some percentage unless you can't afford it at all. Maybe you will be lucky and that slot you play will hit the max multiplier on the bonus round.

Even if no concrete number, we can assume the limit of our budget. As long as you use the money that you can afford to lose, it means you still limit the amount of money on gambling. It is just nonsense if you really don't limit the percentage of money to use. Moreover, if you think more money to use that can increase the chance of your luck. At the end, it will lead you to huge losses and you just realize it when you have spent all your money. You must understand that limiting the budget is the preventive way to avoid the severe losses.

But still though, perhaps majority here is not running on budget. Maybe they will just play on a single day and that's it. Or maybe occasional betting on the side, like sports betting. But for casino lovers who play slots or like blackjack and roulette, maybe there are no specific budget at hand. And if there are days that they continue to win a lot, then they will also go back the next day with that money and try if they can duplicate their winning strategy. Of course, everything will be in the end, regrets and what if scenario. But at least they could have enjoy their runs and most likely will go back again the next day.

[Crypt0Gore]

The highest amount I can spend or used to spend on gambling is 40$ and that's once in a while, most times I use less amounts like 20-30$ because this money comes from a different side of hustle, it has nothing to do with my main business offline and I am happy with it, I don't gamble every time too because that amount don't use to come every week, some times it takes two weeks for me to have spare 30$ left on me doing nothing, everyone has their target and responsibility offline, do not let gambling take that away from you, doing this secure your mental health and also your future too.

The lack of these is why we have gambling addicts that destroy their lives because they failed to do some calculations on their income and they use every month that comes their way to gamble.

No extra income, there should be no investment, No extra income? There should be no gambling for you, fix your jobless state first and get a life before coming near gambling, because gambling is not a secure way to make money.

[Cryptmuster]

A gambler who get rekt isn't only the poor, so regardless how much they earn in a month, any gambler need to allocate how much they can afford to lose in gambling. Let's say @retreat only earn $500/month and he need to spend $400/month for his daily needs, so he still have $100, he can allocate $10 for gambling and $90 to save. But what if there's a rich person who earn $100,000/month and he only need to spend $400/month, but he gamble the rest of his money $99,600? this would ruin his life.

A rich person who earns 100k will not be able to live on $400 a month, he will have much greater expenses, and besides, a person with such an income level does not just earn that kind of money, which means he understands how to handle money and understands how much can be allocated for gambling so that it does not become a problem for him in case of a loss.

[lienfaye]

What percentage of weekly income do you think is right for gambling?

In my case, 5% would be a reasonable amount since that's what I can afford to lose. But i'm not playing weekly because I usually allocate money for leisure from my real job and that's every two weeks. After budgeting the essential things, I set aside the money for my "me" time and that includes the budget for gambling.

There might be gamblers who can spend more but I don't see any problem with that. As long as it's the money that you can live without (and you already attend to what needs to prioritize first) then you can do anything that can satisfy yourself.

[Kakmakr]

I think if you see gambling as entertainment, then you should look at your overall percentage of what you set aside from your monthly budget for entertainment and then decide what percentage of that goes towards gambling. The problem are, many people take the whole percentage of their entertainment budget and use it for gambling and then take some money from their other expenses too.... and then they run into problems.

As soon as you find yourself in a position where you start taking money that was supposed to go to paying other expenses, then you should consider finding help for gambling addiction. 

[Eureka_07]

<snip>

I hadn't considered this recently, but I believe that allocating less than 10% of your income for gambling is the best approach. Of course, this may vary for different individuals.

It's essential to allocate your income properly for basic needs, emergency funds, and other necessities before considering spending on gambling. Always prioritize responsible financial planning over entertainment expenses, including gambling.

[Josefjix]

I hadn't considered this recently, but I believe that allocating less than 10% of your income for gambling is the best approach. Of course, this may vary for different individuals.

It's essential to allocate your income properly for basic needs, emergency funds, and other necessities before considering spending on gambling. Always prioritize responsible financial planning over entertainment expenses, including gambling.

As long as we are in the space, we ought to sort out way to survive. Gambling is the last thing on my mind because I have other important resources that I prioritize. I took care of my family because I am the breadwinner, then I focused on extracurricular activities that provide some extra money for my pocket, which I then divided between my recreational interests, gambling being one of them. Straight 10% goes to that area without hesitation, and while I occasionally record losses that are manageable, I frequently generate profits that come with substantial benefits.

[panjul07]

I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?

Should we use percentage of our income to calculate about how much to spend in gambling? I dont think so..
Why? Because it means that if you huge income, then you will spend huge amount for gambling as well which is not that good.
Lets say you have a weekly/monthly income about $100k and you set 5%-10% for gambling, means that you will spend 5%*100k = 5k-10k
It is wiser if you spend what you can afford to lose only, the most important thing is to spend your income to your daily needs first.
Our weekly/monthly needs is not stable, sometime we can spend less some other time we are forced to spend more.
Once we can spent our income for our important things first then we can start to calculate how much to spend in gambling.

[Dr.Bitcoin_Strange]

As long as we are in the space, we ought to sort out way to survive. Gambling is the last thing on my mind because I have other important resources that I prioritize. I took care of my family because I am the breadwinner, then I focused on extracurricular activities that provide some extra money for my pocket, which I then divided between my recreational interests, gambling being one of them. Straight 10% goes to that area without hesitation, and while I occasionally record losses that are manageable, I frequently generate profits that come with substantial benefits.

Despite the fact that one is involved in other things, they can still have little free time to gamble. I am also a very busy person from Monday until Friday (mostly Mondays and Tuesdays), but I still have time to gamble, although when I am too busy with activity during some weeks, I don't find time to gamble. But it doesn't mean I still don't get my mind running through it, and yet I can't help but concentrate on the work that really mattered at that moment. Who knows if, by the time I am married, I might even have time to gamble at all?

[Renampun]

I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?

actually this is a personal problem that only that person can think about and the answers that appear are definitely different.

I use 20% of my weekly income for gambling, it's never less or more, compared to the percentage you give maybe it's quite high but I discussed this with my partner and he's okay with it, but when I go too far I want to use it more funds, he will definitely scold me lol.

for all, avoid gambling beyond capital that you cannot cover and never use emergency funds or debt to gamble, that is very risky.