Appropriate percentage of income for gambling

[SeriouslyGiveaway]

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

I don't allocate a certain percentage of my weekly money for gambling, but I always use my savings for it. If I believe a bet aligns with my strategy, I will wager 15-20%. However, if I'm not so sure (about 50/50 odds), I only bet 1-5% for fun. For me, gambling is just like a game that helps me entertain, not for earning money. Consequently, my psyche remains comfortable.

We spend lots of money on other stupid stuff for fun too so it is fine to spend some money on gambling as long as you are having fun not greedy and 2% sounds just like the right amount. Life is all about balancing stuff. We need to balance fun and work so we won't go crazy.

I agree with you on that point. If we approach gambling with the purpose of entertainment and don't put pressure on ourselves to make money, it can be an enjoyable way to relieve stress and may even help us improve certain skills, such as analysis and gaining more knowledge about the field in which we gamble, whether it's casino games, sports betting, crypto trading, or forex.

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[tjtonmoy]

~Snip

I am not into gambling anymore. But with the weekly income that i have now, I can use 10-20% from my side. This may fluctuate based on situation but keeping my savings aside, I am left with 10-20% every week. And those are the money i use for my own entertainment purposes. That's the amount i can afford to lose. In that sense, I said if I were to gamble, I can easily use that percentage of my weekly income for gambling.
You are correct about the fact that more gambling will lead to more spending. It will have a bad effect on the long run. So that's a thing of concern. But I don't think less income will be any better if you are already a gambling addict. Less income will cause more damage if you are addicted and in meed of more money to gamble. Budget does not matter as long as you have control over your gambling habit.

[swogerino]

~Snip

I am not into gambling anymore. But with the weekly income that i have now, I can use 10-20% from my side. This may fluctuate based on situation but keeping my savings aside, I am left with 10-20% every week. And those are the money i use for my own entertainment purposes. That's the amount i can afford to lose. In that sense, I said if I were to gamble, I can easily use that percentage of my weekly income for gambling.
You are correct about the fact that more gambling will lead to more spending. It will have a bad effect on the long run. So that's a thing of concern. But I don't think less income will be any better if you are already a gambling addict. Less income will cause more damage if you are addicted and in meed of more money to gamble. Budget does not matter as long as you have control over your gambling habit.

I agree,when you have self control and great discipline the budget does not count a lot,you can make a little budget go a long way when you are used to gamble with certain patterns and you don't over do it.Most people,including me play well over 10% of their budget in gambling but when you have set a fixed amount you can use it like you don't have it and as such you can try different games in gambling,if you win great for you and if you lose you already counted this money as a lost amount so in both scenarios there is nothing to worry.

[coolcoinz]

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 picked less than 2%, with 1% being closer to what I would pick, and the reason for this is very simple, if you were to dedicate even more money than that and you gambled that money away each week then you will realize that if you had invested that money instead you could have bought an expensive asset with all of that money.

So this will create a sense of remorse that will be difficult to overcome, as such I think there is nothing wrong with gambling but you need to do it with amounts of money that are very small so you can avoid having those feelings.

I did the same as I don't have a specific amount that I spend weekly so it's impossible to estimate. If one month I spend 5% of my income, but for the next 2 months I don't spend anything, the average is going to be something around 2% anyway.

I'm sure some of you have a weekly spending routine, but I gamble when I feel like it. It's not a part of my way of life, like getting more bitcoin or working. I do all my chores, pay my bills, and if there's something left and there's an interesting event coming up - I gamble.

[wxa7115]

I picked less than 2%, with 1% being closer to what I would pick, and the reason for this is very simple, if you were to dedicate even more money than that and you gambled that money away each week then you will realize that if you had invested that money instead you could have bought an expensive asset with all of that money.

So this will create a sense of remorse that will be difficult to overcome, as such I think there is nothing wrong with gambling but you need to do it with amounts of money that are very small so you can avoid having those feelings.

I did the same as I don't have a specific amount that I spend weekly so it's impossible to estimate. If one month I spend 5% of my income, but for the next 2 months I don't spend anything, the average is going to be something around 2% anyway.

I'm sure some of you have a weekly spending routine, but I gamble when I feel like it. It's not a part of my way of life, like getting more bitcoin or working. I do all my chores, pay my bills, and if there's something left and there's an interesting event coming up - I gamble.

And you are taking the right decision, on average people do not realize the strength of their habits, maybe drinking a soda today has almost no effect on your health, but do this for 40 years in a row and then suddenly this will have an effect on your sugar levels on blood and your teeth, and the same is true when it comes to the usage we give to our money.

Gambling is OK as we all need some entertainment from time to time, but using a great deal of our money in this activity is without a doubt a mistake, as we have many other needs and goals that we may like to accomplish as well.

[Latviand]

I'm being honest here when I say that I don't track my expenses when I'm gambling, whenever I gamble I just get the money that I want to spend and when that money is gone because it's a loss for me and a bad day for me then my gambling is done for that day. I know that it's kind of stupid of me not to track how much I spend in gambling but I think that I'm happier that I don't know how much I lose over time, less regrets on why I gamble and I have more fun at the end of the day.

If you were to ask me what percentage of my weekly income I can use for gambling, it's probably less than 5%. I don't usually place bets with a lot of money but I enjoy betting with just a few bucks on multiple events simultaneously, which it'll could make me win a huge amount with just a small bet if luck is on my side. I understand that winning is difficult, but I find great enjoyment in watching the games I've bet on hoping that it might just be my lucky day!

I mean that's what betting does, you root more sincerely for the team that you've put your money in and it makes it that your screaming and feeling bad about the team or the fouls committed or the bad calls by the referees more justified although to some degree.

[arwin100]

I picked less than 2%, with 1% being closer to what I would pick, and the reason for this is very simple, if you were to dedicate even more money than that and you gambled that money away each week then you will realize that if you had invested that money instead you could have bought an expensive asset with all of that money.

So this will create a sense of remorse that will be difficult to overcome, as such I think there is nothing wrong with gambling but you need to do it with amounts of money that are very small so you can avoid having those feelings.

I did the same as I don't have a specific amount that I spend weekly so it's impossible to estimate. If one month I spend 5% of my income, but for the next 2 months I don't spend anything, the average is going to be something around 2% anyway.

I'm sure some of you have a weekly spending routine, but I gamble when I feel like it. It's not a part of my way of life, like getting more bitcoin or working. I do all my chores, pay my bills, and if there's something left and there's an interesting event coming up - I gamble.

Gambling is OK as we all need some entertainment from time to time, but using a great deal of our money in this activity is without a doubt a mistake, as we have many other needs and goals that we may like to accomplish as well.

We just need to check ourselves if we are still doing good and not exceed to the limit we set since if we always surpass to the budget allocated on gambling then we can determine that we are not fine. If we know that we didn't reach the limit and enjoyed the games then for this we can say that we are in healthy state.

Gambling is really fine its just there are people abuse theirselves then end up they can't control anything and mess up everything in their lives.

[Westinhome]

We just need to check ourselves if we are still doing good and not exceed to the limit we set since if we always surpass to the budget allocated on gambling then we can determine that we are not fine. If we know that we didn't reach the limit and enjoyed the games then for this we can say that we are in healthy state.

Gambling is really fine its just there are people abuse theirselves then end up they can't control anything and mess up everything in their lives.

We should check the two week payment using the last two weeks or three weeks.When the two weeks attain the equal or near value,then it will be your weekly income from the gambling.Then try to increase the same with your efforts.You should increase the average value to 30% about that two week constant value.Some people doesn't attain the value as I had mentioned,but they are most satisfied with the entertainment from the game.So they are most healthy gambler as compared to the more money earning person.Because money earning is simple one but satisfy from the gambling is not the easy one.Only few gambler look the gambling as the entertainment giving game and other think gambling as money making machine.

[bangjoe]

I'm being honest here when I say that I don't track my expenses when I'm gambling, whenever I gamble I just get the money that I want to spend and when that money is gone because it's a loss for me and a bad day for me then my gambling is done for that day. I know that it's kind of stupid of me not to track how much I spend in gambling but I think that I'm happier that I don't know how much I lose over time, less regrets on why I gamble and I have more fun at the end of the day.

But tracking expenses for gambling is very important, don't get used to being biased by the money you are ready to eliminate but you don't know the calculation of the accumulation that you are ready to disappear per week, sometimes in gambling you feel calm because you get a bonus from your work then you enter it into gambling every week on the grounds you are ready to lose it, but if you are traced to more than 40% of your income a month, it will damage your finances of your friends, even though you basically feel free and calm because you do not know the amount of accumulation of money you input into gambling, But in my opinion it is still wrong action.
Do not let your pleasure blind what you should limit.

[maydna]

I'm being honest here when I say that I don't track my expenses when I'm gambling, whenever I gamble I just get the money that I want to spend and when that money is gone because it's a loss for me and a bad day for me then my gambling is done for that day. I know that it's kind of stupid of me not to track how much I spend in gambling but I think that I'm happier that I don't know how much I lose over time, less regrets on why I gamble and I have more fun at the end of the day.

You can try to make a budget for gambling. It is useful to know how much you used to gamble on that day. But don't immediately spend all the budget money instead, try to divide it up for a few days, say a week. Usually, that's what I do for each week, and for example for a week, I make a budget of $25. The amount of money must be enough for a week, and you may not deposit another amount of money if you lose gambling. So with that money, you can gamble for a few days and not bother with the rest of your finances.

[AmoreJaz]

I'm being honest here when I say that I don't track my expenses when I'm gambling, whenever I gamble I just get the money that I want to spend and when that money is gone because it's a loss for me and a bad day for me then my gambling is done for that day. I know that it's kind of stupid of me not to track how much I spend in gambling but I think that I'm happier that I don't know how much I lose over time, less regrets on why I gamble and I have more fun at the end of the day.

But tracking expenses for gambling is very important, don't get used to being biased by the money you are ready to eliminate but you don't know the calculation of the accumulation that you are ready to disappear per week, sometimes in gambling you feel calm because you get a bonus from your work then you enter it into gambling every week on the grounds you are ready to lose it, but if you are traced to more than 40% of your income a month, it will damage your finances of your friends, even though you basically feel free and calm because you do not know the amount of accumulation of money you input into gambling, But in my opinion it is still wrong action.
Do not let your pleasure blind what you should limit.

some people don't have the patience to track the funds they used for gambling because they don't want to face the reality.   let's check the fact that a lot of us usually are on the losing side rather than on the winning side. but if you know the approximate amount you want to spend, there's no problem. but if you go beyond such amount and you actually don't have extra, that's when you will have trouble.

[Vaskiy]

I'm being honest here when I say that I don't track my expenses when I'm gambling, whenever I gamble I just get the money that I want to spend and when that money is gone because it's a loss for me and a bad day for me then my gambling is done for that day. I know that it's kind of stupid of me not to track how much I spend in gambling but I think that I'm happier that I don't know how much I lose over time, less regrets on why I gamble and I have more fun at the end of the day.

You can try to make a budget for gambling. It is useful to know how much you used to gamble on that day. But don't immediately spend all the budget money instead, try to divide it up for a few days, say a week. Usually, that's what I do for each week, and for example for a week, I make a budget of $25. The amount of money must be enough for a week, and you may not deposit another amount of money if you lose gambling. So with that money, you can gamble for a few days and not bother with the rest of your finances.

Allocation of budget for gambling is a better way to spend. Even the allocated fund shouldn't be used on the same day. Most of the people will spend due to lack of control. Just the divide and spend is good, when the days amount is lost one should stop gambling for the day. The next day the mind shouldn't be on recovering the previous day's loss, but just the wager need to be done with the days allocation. This will surely be a healthy way of gambling than losing everything in few rolls.

[tusandii]

I'm being honest here when I say that I don't track my expenses when I'm gambling, whenever I gamble I just get the money that I want to spend and when that money is gone because it's a loss for me and a bad day for me then my gambling is done for that day. I know that it's kind of stupid of me not to track how much I spend in gambling but I think that I'm happier that I don't know how much I lose over time, less regrets on why I gamble and I have more fun at the end of the day.

But tracking expenses for gambling is very important, don't get used to being biased by the money you are ready to eliminate but you don't know the calculation of the accumulation that you are ready to disappear per week, sometimes in gambling you feel calm because you get a bonus from your work then you enter it into gambling every week on the grounds you are ready to lose it, but if you are traced to more than 40% of your income a month, it will damage your finances of your friends, even though you basically feel free and calm because you do not know the amount of accumulation of money you input into gambling, But in my opinion it is still wrong action.
Do not let your pleasure blind what you should limit.

some people don't have the patience to track the funds they used for gambling because they don't want to face the reality.   let's check the fact that a lot of us usually are on the losing side rather than on the winning side. but if you know the approximate amount you want to spend, there's no problem. but if you go beyond such amount and you actually don't have extra, that's when you will have trouble.

Now that's absolutely true because not of the many gamblers who can track the funds they use because indeed gambling gives pleasure and satisfaction so that gamblers can forget what was spent while on the gambling site.
What's more, tracking or calculating losses will be even more difficult to do I think those who can calculate losses will definitely regret it because they see how much they have lost, while the wins they get are not worth the losses.
But it would be better to be able to calculate it so that every gambler can have a limit to the total amount of money they have.

[bangjoe]

But tracking expenses for gambling is very important, don't get used to being biased by the money you are ready to eliminate but you don't know the calculation of the accumulation that you are ready to disappear per week, sometimes in gambling you feel calm because you get a bonus from your work then you enter it into gambling every week on the grounds you are ready to lose it, but if you are traced to more than 40% of your income a month, it will damage your finances of your friends, even though you basically feel free and calm because you do not know the amount of accumulation of money you input into gambling, But in my opinion it is still wrong action.
Do not let your pleasure blind what you should limit.

some people don't have the patience to track the funds they used for gambling because they don't want to face the reality.   let's check the fact that a lot of us usually are on the losing side rather than on the winning side. but if you know the approximate amount you want to spend, there's no problem. but if you go beyond such amount and you actually don't have extra, that's when you will have trouble.

Now that's absolutely true because not of the many gamblers who can track the funds they use because indeed gambling gives pleasure and satisfaction so that gamblers can forget what was spent while on the gambling site.
What's more, tracking or calculating losses will be even more difficult to do I think those who can calculate losses will definitely regret it because they see how much they have lost, while the wins they get are not worth the losses.
But it would be better to be able to calculate it so that every gambler can have a limit to the total amount of money they have.

That only applies to him who is too ambitious to win the game, fun is an excuse that is irrelevant to this case, no matter how much money he spends, I think behind the word fun that is said is ambition to win and not feeling satisfied with what he has If you get it, it is very impossible for someone to gamble because they are happy with the game or the stakes, more precisely he is waiting for a bigger multiplier for bigger profits and in my opinion that is what eliminates his awareness that makes him unable to control his finances.

[lienfaye]

I'm being honest here when I say that I don't track my expenses when I'm gambling, whenever I gamble I just get the money that I want to spend and when that money is gone because it's a loss for me and a bad day for me then my gambling is done for that day. I know that it's kind of stupid of me not to track how much I spend in gambling but I think that I'm happier that I don't know how much I lose over time, less regrets on why I gamble and I have more fun at the end of the day.

You can try to make a budget for gambling. It is useful to know how much you used to gamble on that day. But don't immediately spend all the budget money instead, try to divide it up for a few days, say a week. Usually, that's what I do for each week, and for example for a week, I make a budget of $25. The amount of money must be enough for a week, and you may not deposit another amount of money if you lose gambling. So with that money, you can gamble for a few days and not bother with the rest of your finances.

That's a good way of spending your budget for gambling. If you can last your funds for the whole week, it just shows you have discipline to not go beyond of what you only set for gambling.

Well, I have the same strategy but the difference is, If I use my set budget to play I can't divide it for the next day to still have funds if I still want to gamble. I tend to use it all in just one sitting. The reason why I only gamble once a week. Anyway, regardless of the percentage we allocate for gambling, as long as that's the amount that we can afford to lose then there's no issue.

[crwth]

I think the poll could be better, bracketed, and not "less than 30%". It needs to be more specific. 5% is still less than 30% so we are still determining if the members here are sarcastic or just playing with it. You should change it to 5-10% of income or something like that. It's better and more precise when those are the choices.

I can never think of using 30% unless that's your disposable amount, and that's your choice. I hope people who regularly do this can manage their money wisely.

[maydna]

~snip~

Allocation of budget for gambling is a better way to spend. Even the allocated fund shouldn't be used on the same day. Most of the people will spend due to lack of control. Just the divide and spend is good, when the days amount is lost one should stop gambling for the day. The next day the mind shouldn't be on recovering the previous day's loss, but just the wager need to be done with the days allocation. This will surely be a healthy way of gambling than losing everything in few rolls.

That's why we make a budget for gambling so we don't use the budget for other things in our family. If we have good self-control, of course having a budget for gambling really helps us enjoy gambling, and we also have to follow the limits that we set. We shouldn't spend that budget for one day because we already have a schedule for when we can gamble. Perhaps we can make a limit on the money we use for gambling in one day and can't use the money more. If we lose that day, we must leave immediately and may not take the remaining budget because that is the budget for the next day.

~snip~

That's a good way of spending your budget for gambling. If you can last your funds for the whole week, it just shows you have discipline to not go beyond of what you only set for gambling.

Well, I have the same strategy but the difference is, If I use my set budget to play I can't divide it for the next day to still have funds if I still want to gamble. I tend to use it all in just one sitting. The reason why I only gamble once a week. Anyway, regardless of the percentage we allocate for gambling, as long as that's the amount that we can afford to lose then there's no issue.

I really want to have a budget of funds that I haven't used for a week because that means I don't have to deposit another amount of budget funds for the next week and can immediately use the existing budget. But unfortunately, I can't do it yet because there must be temptations that make me use the budget to gamble.

But I do have limits on gambling, and for now, I'm not betting as much because I really want to reduce my gambling. And indeed, the percentage of the budget we use for gambling will certainly vary from person to person. That's because we also allocate different budget amounts for gambling.

[dezoel]

I think the poll could be better, bracketed, and not "less than 30%". It needs to be more specific. 5% is still less than 30% so we are still determining if the members here are sarcastic or just playing with it. You should change it to 5-10% of income or something like that. It's better and more precise when those are the choices.

I can never think of using 30% unless that's your disposable amount, and that's your choice. I hope people who regularly do this can manage their money wisely.

I don't believe that a sensible and responsible person who has a job and earns a living will spend 30% of their income only on gambling because that would definitely not fit in their budget if they have a family and has to provide for them unless it is someone who is single, lives alone, don't have many expenses and earns a lot of money, that is when one might be able to spend 30% of their total income into gambling without having any effects on their personal life.

An addicted gambler might do that since they wouldn't think of other stuff much and gambling comes first for them, but an addicted gambler would never be so much responsible to have a job an earn a proper income, and those who earn a living already would barely get addicted to gambling.

[slapper]

I think the poll could be better, bracketed, and not "less than 30%". It needs to be more specific. 5% is still less than 30% so we are still determining if the members here are sarcastic or just playing with it. You should change it to 5-10% of income or something like that. It's better and more precise when those are the choices.

I can never think of using 30% unless that's your disposable amount, and that's your choice. I hope people who regularly do this can manage their money wisely.

I don't believe that a sensible and responsible person who has a job and earns a living will spend 30% of their income only on gambling because that would definitely not fit in their budget if they have a family and has to provide for them unless it is someone who is single, lives alone, don't have many expenses and earns a lot of money, that is when one might be able to spend 30% of their total income into gambling without having any effects on their personal life.

An addicted gambler might do that since they wouldn't think of other stuff much and gambling comes first for them, but an addicted gambler would never be so much responsible to have a job an earn a proper income, and those who earn a living already would barely get addicted to gambling.

I've seen countless responsible people, great earners, who enjoy a game of chance. You make it sound like spending on gambling is equivalent to throwing money into a fire. Sure, 30% might seem like a high number, but who are you to decide what's sensible for someone else? Not every individual has the same financial obligations or priorities

You draw this line between addicted gamblers and responsible earners, but that's just black and white thinking. You'd be surprised how many high-functioning individuals enjoy a gamble and still fulfill their responsibilities. Your attempt to fit everyone into these neat little boxes is incredibly shortsighted. Life is more complex than your simplistic categories

[DaNNy001]

To be honest I think I fall under the category of people who don't actually have a certain percentage of my earnings I use for gambling, I mostly just like to flex it thats whenever am feeling like gambling or I have seen a particular game am much interested in, I just go on all out and place my bet depending on the amount I am willing to spare for that moment.