Appropriate percentage of income for gambling

[LUCKMCFLY]

Someone saving 45% of their income each month will end up in a fantastic position very early on their life, think about it they are almost saving half of their salary, which means that each year they work they generate one year of savings.

If that person were to save a few years out of their income and then they invested that money in bitcoin, suddenly they will not have years of savings but decades of savings which will allow them to retire at a very early age.

And if they can save that amount without having to gamble at all, they will see how much money they have at the end of the year and it will surprise them that they can make a lot of money by saving it and not using it for gambling. But people who are used to gambling will definitely budget their money to be deposited into their gambling account so that they can freely use it to gamble.

Saving their money in bitcoin will be better for them because it can make them big profits from investing in it. If they also reduce their allocation of money for gambling and move it into investment savings in bitcoin, they will have more bitcoin they can sell when the price of bitcoin rises.

It is different for me as I allocate a certain amount for savings, investments, and expected expenses, and the remaining money will be for some stuff and leisure. Maybe I was really strict when it came to budgeting but I was thankful because this is the reason why I'd never fall into addiction and spend less on gambling. If only $100 is left (free money) then that is only the money I have to gamble to.

And I'd find out how important it was because, for some reason, we are able to keep on our plan and are able to reach our goal.

That is the right approach, since money that we can afford to lose means exactly that, after you subtract the money needed to pay for groceries, utilities, gasoline, insurance, saving and investing, then whatever that remains is the money you can afford to lose.

And if that amount of money is small so be it, there is no point in trying to gamble away more money than what we can afford, after all the amount of money we can earn is limited so it make sense we try to use it as effectively as we can.

I have always agreed that a person can save in bitcoin and if a person decides to save 45% of their monthly income and uses it only for bitcoin, it can be quite good, because whenever we start to think if a person earning money in a country X and if its economy is very inflcnary it does not make sense to save in the local currency of that country, and if you spend everything to the strongest currency considered as the dollar, because the dollar can have its fall , so the most sensible thing is that you can invest it and there is no small investment that is worth it, because the only one that is worth it, even if it is to incorporate little by little, is bitcoin, because bitcoin is the currency that can be done the most to earn a lot of money, its deflationary nature is above any economy that exists, even if it is a country with the most prosperous economy, bitcon will always be above everything, it is what many people have found to really save, why not even in a bank Not even in the best of banks can it generate that much money, because a bank does not even reach 24% per year, etnonce that is something that should not be.

Now, a person who decides to save a large percentage of his salary is not healthy for him to spend it in a casino, because just as he can multiply it, which is not bad, he can leave it all there and lose all the effort he made. saving it and it's not the idea either, I think the money should move, but there are things that are a little more secure, in fact I would prefer that you put the money in tading so that you can do bigger things, and even though there is the risk of losing that Money, well, you can do things that you can win, what I weigh is that the correct percentage to play in a match according to what you win, you can allocate is 1% and a maximum of 2% of there you think is not possible more, because it would be like throwing money overboard, because it is easier to lose than to win, we must know that a casino will always have the advantage of the house and that above that nothing.

[FanEagle]

Less than 5% and less than 2% seems a bit close to each other. Mine is just around 3% range give or take every month so I could say that I could maybe drop it to 2% as well and it wouldn't really change a whole lot in my life, and I could increase it to 5% as well and it wouldn't suddenly make me poor neither.

However, I could say that it is going to end up with a different result one way or another, it is not going to be that simple in the end and should be a bit of a difficult question based on what your income is. Someone who makes 500 dollars a month and someone who makes 50k a month should not have the same result, while one can spend 10% easily, the other can't. That's why this changes from person to person.

[mirakal]

Less than 5% and less than 2% seems a bit close to each other. Mine is just around 3% range give or take every month so I could say that I could maybe drop it to 2% as well and it wouldn't really change a whole lot in my life, and I could increase it to 5% as well and it wouldn't suddenly make me poor neither.

However, I could say that it is going to end up with a different result one way or another, it is not going to be that simple in the end and should be a bit of a difficult question based on what your income is. Someone who makes 500 dollars a month and someone who makes 50k a month should not have the same result, while one can spend 10% easily, the other can't. That's why this changes from person to person.

However, the only thing I am certain of is that you should never gamble more than you can afford to lose. Spending 5% or below is easy to say, but when you are already experiencing consistent huge profits in gambling, I think it would be hard for anyone to stop, thinking that the moment you stop, you will eventually lost your luck and never get the chance again to be in huge profits. This is why most gamblers never win ultimately, aside from the fact that the house should always be the one to win.

[Westinhome]

Less than 5% and less than 2% seems a bit close to each other. Mine is just around 3% range give or take every month so I could say that I could maybe drop it to 2% as well and it wouldn't really change a whole lot in my life, and I could increase it to 5% as well and it wouldn't suddenly make me poor neither.

However, I could say that it is going to end up with a different result one way or another, it is not going to be that simple in the end and should be a bit of a difficult question based on what your income is. Someone who makes 500 dollars a month and someone who makes 50k a month should not have the same result, while one can spend 10% easily, the other can't. That's why this changes from person to person.

The maximum people opinion was les than 5 percentage,because less than 2 percentage was low one for the gambling.So the gamblers uses 5 percentage for the gambling from their monthly income.But I was from that 7 percentage of the population,which is less than 30 percentage of money in the gambling.I will spend 40 percentage of income for the rent and the clothes,then i will keep 30 percentage of nu income to the food.So the balance 30 percentage of my free income will be used on the gambling.Because I had strong belief on my luck and so my luck will give me more money from gambling one day.

[passwordnow]

The maximum people opinion was les than 5 percentage,because less than 2 percentage was low one for the gambling.So the gamblers uses 5 percentage for the gambling from their monthly income.But I was from that 7 percentage of the population,which is less than 30 percentage of money in the gambling.I will spend 40 percentage of income for the rent and the clothes,then i will keep 30 percentage of nu income to the food.So the balance 30 percentage of my free income will be used on the gambling.Because I had strong belief on my luck and so my luck will give me more money from gambling one day.

That's so much confidence from you. But whatever is the percentage that you're comfortable to spend from your monthly income, make use of that first for your bills and necessities then you're free to go wild and gamble with that money of yours. That's where many gamblers get it wrong that they're lessen first their gambling funds before proceeding and paying everything for their bills and needs. It should be deducted first before they allot their percentage for gambling so that they won't compromise those important obligations they need to sustain and attend to. And at the same time, their relatives won't blame gambling because they become reckless and irresponsible if they're prioritizing their percentage for gambling.

[TelolettOm]

However, the only thing I am certain of is that you should never gamble more than you can afford to lose. Spending 5% or below is easy to say, but when you are already experiencing consistent huge profits in gambling, I think it would be hard for anyone to stop, thinking that the moment you stop, you will eventually lost your luck and never get the chance again to be in huge profits. This is why most gamblers never win ultimately, aside from the fact that the house should always be the one to win.

Of course, we shouldn't gamble excessively, that's why we must limit the funds. If we limit the funds, we must allocate it with the mount of money that we afford to lose. But if we have no limitation of the funds to use daily or weekly, it is not impossible that we may use more than 5% of income. Or we even may think to take a loan because of trying to chase the wins. Well, it is actually related to self control, people who has good self control must understand how much money they should spend ideally.

Commonly, each gambler understands that it is impossible to always win. It is gambling, no chance to maintain the wins for many times.  So, when a gambler is experiencing winning streaks, he/she probably considers to stop temporarily. It is because if he/she continues it, he/she may forget the nature of gambling and he/she tends to spend more more money. But to do this, a gambler must have a good self-control. It won't be easy to stop when someone is in a good mood because of winning streaks.

[serjent05]

Less than 5% and less than 2% seems a bit close to each other. Mine is just around 3% range give or take every month so I could say that I could maybe drop it to 2% as well and it wouldn't really change a whole lot in my life, and I could increase it to 5% as well and it wouldn't suddenly make me poor neither.

However, I could say that it is going to end up with a different result one way or another, it is not going to be that simple in the end and should be a bit of a difficult question based on what your income is. Someone who makes 500 dollars a month and someone who makes 50k a month should not have the same result, while one can spend 10% easily, the other can't. That's why this changes from person to person.

The maximum people opinion was les than 5 percentage,because less than 2 percentage was low one for the gambling.So the gamblers uses 5 percentage for the gambling from their monthly income.But I was from that 7 percentage of the population,which is less than 30 percentage of money in the gambling.I will spend 40 percentage of income for the rent and the clothes,then i will keep 30 percentage of nu income to the food.So the balance 30 percentage of my free income will be used on the gambling.Because I had strong belief on my luck and so my luck will give me more money from gambling one day.

Well, it is good to know that you have big salaries that can cover all your needs with only 60% of your income.  Others are not as lucky as you since many people have salaries that can rarely meet their family needs so many of us here just allocate a small percentage of our monthly salaries but of course, if we get an extra source of funds, we might end up adding more percentage to gambling for entertainment.

I also believe that it is okay to spend any percentage of the income on gambling entertainment as long as they can sustain their family's needs and bills with the remaining money.

[wxa7115]

Less than 5% and less than 2% seems a bit close to each other. Mine is just around 3% range give or take every month so I could say that I could maybe drop it to 2% as well and it wouldn't really change a whole lot in my life, and I could increase it to 5% as well and it wouldn't suddenly make me poor neither.

However, I could say that it is going to end up with a different result one way or another, it is not going to be that simple in the end and should be a bit of a difficult question based on what your income is. Someone who makes 500 dollars a month and someone who makes 50k a month should not have the same result, while one can spend 10% easily, the other can't. That's why this changes from person to person.

It may not seem like much but the more you save the more money you have to invest, and the longer you can do this the more profits you will have over a long period of time.

So even if an additional 1% may not see like much, we must remember that amount compounds, and if you invest it in bitcoin which has higher volatility than the stock market then it can easily lead you towards some good profits, as long as you can hold your coins for that long of course.

[maydna]

Less than 5% and less than 2% seems a bit close to each other. Mine is just around 3% range give or take every month so I could say that I could maybe drop it to 2% as well and it wouldn't really change a whole lot in my life, and I could increase it to 5% as well and it wouldn't suddenly make me poor neither.

However, I could say that it is going to end up with a different result one way or another, it is not going to be that simple in the end and should be a bit of a difficult question based on what your income is. Someone who makes 500 dollars a month and someone who makes 50k a month should not have the same result, while one can spend 10% easily, the other can't. That's why this changes from person to person.

It may not seem like much but the more you save the more money you have to invest, and the longer you can do this the more profits you will have over a long period of time.

So even if an additional 1% may not see like much, we must remember that amount compounds, and if you invest it in bitcoin which has higher volatility than the stock market then it can easily lead you towards some good profits, as long as you can hold your coins for that long of course.

So it's better to budget the money to invest in bitcoin than to use it for gambling. I like that, and that's what we should do. We also don't need to allocate funds too large for gambling, especially if we invest in bitcoin. It's better for us to provide a larger portion of funds to invest in bitcoin so that our profits can also be bigger.

But whatever allocation we use, we have to adjust it to the income we receive. If we allocate more than 10% to gambling, we must look at other allocations because they will require adjustments elsewhere. So instead of running out of money if we use it for gambling and don't know when we can win a lot of money, it's better to use the money to invest in bitcoin.

[qwertyup23]

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 think the answer mostly depends on the perspective of each and every player who gambles.

Generally, people who view gambling as purely a form of entertainment are less likely to invest more money on their income in this venue. They view gambling as a way to at least reduce some stress as the adrenaline can give a person the boost of emotions that can be felt during the act.

On the other hand, people who view gambling as a way of earning income or money do have higher chances of investing more money on their income. Their goal is to quickly win or recover their losses by gambling again, thereby creating a cycle of income stream and expenses.

[Odusko]

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?

Made i very good decision there mate, because have a higher percentage of your weekly income to gamble may result into possibly higher loses since we are already incline with the risk associated with gambling, lately it has been difficult for me to make any wins from my weekly gambling i don't know if i should take a break and save up my balance, although I have up to 15% of my weekly income set aside for gambling, but hardly will my balance take me up to middle of the month before i exust the set aside fund.
I record more loses than winning mostly on weekdays but sometimes my luck shines more on weekends.

[Josefjix]

It may not seem like much but the more you save the more money you have to invest, and the longer you can do this the more profits you will have over a long period of time.

So even if an additional 1% may not see like much, we must remember that amount compounds, and if you invest it in bitcoin which has higher volatility than the stock market then it can easily lead you towards some good profits, as long as you can hold your coins for that long of course.

Spreading out the message clearer, I don't flow with the same understanding with illustrations, there are various opinions stated out here, we have our basic choices to make. I don't believe in using percentage of our income to gamble, it makes no sense because our hard earn money are already utilized for budgets. There's no such thing as using our percentage to gamble, it only portrays how less busy we are to implement solid good plans for our future. I concord with the opinion that stated out that, we should use our extra change, money that's not for important budgets to gamble, because that's the only thing we can afford to lose.

[wxa7115]

It may not seem like much but the more you save the more money you have to invest, and the longer you can do this the more profits you will have over a long period of time.

So even if an additional 1% may not see like much, we must remember that amount compounds, and if you invest it in bitcoin which has higher volatility than the stock market then it can easily lead you towards some good profits, as long as you can hold your coins for that long of course.

Spreading out the message clearer, I don't flow with the same understanding with illustrations, there are various opinions stated out here, we have our basic choices to make. I don't believe in using percentage of our income to gamble, it makes no sense because our hard earn money are already utilized for budgets. There's no such thing as using our percentage to gamble, it only portrays how less busy we are to implement solid good plans for our future. I concord with the opinion that stated out that, we should use our extra change, money that's not for important budgets to gamble, because that's the only thing we can afford to lose.

It is the same, it is just being expressed in a different way, supposing you earn 3k per month and you use 150 dollars to gamble this is the same as saying you use 5% of your income to gamble.

However it is more useful to think of your income in terms of percentage as the amount you earn per month is different than what someone else may be earning, so for someone assigning 150 dollars per month to gamble may not be a huge deal, while for someone else that could be more than half of their salary, as such it is more useful to think in terms of percentage as this allows you to more clearly see how much of what you earn goes towards gambling, without revealing absolute numbers which could put you at risk of scammers, which are everywhere these days.

[tusandii]

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?

Made i very good decision there mate, because have a higher percentage of your weekly income to gamble may result into possibly higher loses since we are already incline with the risk associated with gambling, lately it has been difficult for me to make any wins from my weekly gambling i don't know if i should take a break and save up my balance, although I have up to 15% of my weekly income set aside for gambling, but hardly will my balance take me up to middle of the month before i exust the set aside fund.
I record more loses than winning mostly on weekdays but sometimes my luck shines more on weekends.

There is no best advice except from yourself to manage your own finances wisely and respect your own decisions and at least love your money much better.
Even though you always have budget of 15% remaining money set aside, when you gamble and feel like its not your day, it better to stop betting and save rest of your budget to use for gambling next day.
You have to remember that gambling has way of always winning and you will have no way but to accept defeat every day.

[Mr.suevie]

Well I think am different when it's comes to my gambling spending because I don't think I have a specific budget or percentage of money I use for my gambling because when I comes to my gambling habit, it's just a matter of the time and how I feel about gambling that particular time as I just used any funds available to certified my urge when it's comes to gambling. It's still surprising to see people saying they actually put out specific amount just to gamble .

[alegotardo]

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 spend little, I believe no more than 10% of my income.
However, I don't think it's possible to say that this is a lot or a little for someone because there are those who prefer to spend more money on gambling than on other superfluous things.
On the other hand, there are people who spend a lot of money on parties, clothes, bars and a lot more on gambling.

I also believe that in addition to the amount of money people spend on gambling, it should be assessed how much time they spend in their lives gambling. It may be that someone makes small bets, or has a lot of skill and luck in gambling, but spends several hours a day just on this.

[ethereumhunter]

Well I think am different when it's comes to my gambling spending because I don't think I have a specific budget or percentage of money I use for my gambling because when I comes to my gambling habit, it's just a matter of the time and how I feel about gambling that particular time as I just used any funds available to certified my urge when it's comes to gambling. It's still surprising to see people saying they actually put out specific amount just to gamble .

But it would be better if you have a budget for gambling so you can control your money. At least it can limit you from gambling excessively because we know what will happen to someone who gambles excessively. People who gamble using a certain budget want to limit their gambling so they don't lose too much. If you can also have a budget for gambling, maybe that can also be a limit for you so you will try not to exceed the limit. But if you think it is going well and you feel comfortable with it, you can continue but be careful if one day, you are tempted to use more money.

[DabsPoorVersion]

Well I think am different when it's comes to my gambling spending because I don't think I have a specific budget or percentage of money I use for my gambling because when I comes to my gambling habit, it's just a matter of the time and how I feel about gambling that particular time as I just used any funds available to certified my urge when it's comes to gambling. It's still surprising to see people saying they actually put out specific amount just to gamble .

But it would be better if you have a budget for gambling so you can control your money. At least it can limit you from gambling excessively because we know what will happen to someone who gambles excessively. People who gamble using a certain budget want to limit their gambling so they don't lose too much. If you can also have a budget for gambling, maybe that can also be a limit for you so you will try not to exceed the limit. But if you think it is going well and you feel comfortable with it, you can continue but be careful if one day, you are tempted to use more money.

I agree, maybe right now you feel nothing when gambling. But when the time comes that you feel the urge of wanting to continue to get your losses or maybe if you have won a lot of money, it will be hard for you to stop and manage the amount of money you spend on gambling. Having a specific budget for gambling can help to control yourself in gambling, it's not surprising at all because it is a must.

[tsaroz]

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?

This is a good strategy for every gamblers to adopt. This might not come as straightforward in percentage but there should be a set limit to keep you healthy economically and mentally. For me, I designate a few income sources as my gambling bankroll. 100% of it goes to my gambling bankroll but I don't use 100% of it. It's my ultimate limit that I haven't hit yet. In past I had bad experiences of losing all my salary on gambling so I have restricted the use of my day jobs salary on gambling. Keeping them on different bank accounts would help if you can't control yourself.

[Rabata]

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?

Made i very good decision there mate, because have a higher percentage of your weekly income to gamble may result into possibly higher loses since we are already incline with the risk associated with gambling, lately it has been difficult for me to make any wins from my weekly gambling i don't know if i should take a break and save up my balance, although I have up to 15% of my weekly income set aside for gambling, but hardly will my balance take me up to middle of the month before i exust the set aside fund.
I record more loses than winning mostly on weekdays but sometimes my luck shines more on weekends.

As everyone's income is not the same that is different from each other, the percentage that needs to be spent depends on the individual's income and expenses. If someone with a good income spends 12 percent a week, it will not be a problem, but for a person with a low income, it will behave negatively. Already some users have suggested using 5 percent which is definitely a good percentage for gambling. If a gambler regularly spends this small portion of their income on gambling then their gambling will not affect their personal life.