Risking 1% in Gambling

[Baofeng]

Guideline 1: Gamble no more than 1% of household income
Don’t bet more than 1% of your household income before tax per month. For example, someone with a household income of $70,000 before tax should gamble no more than $58 per month.

Recently I decided to risk only 1 percent of my gambling portfolio into each bet. This makes my bet risk free as I know that even if I lose the bet i will lose only 1% of my gambling money.

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game? This way not only we are safe from losing big amounts but at the same time, we never find ourselves in a situation where we go all in, in some bet and then have the fear of losing all of our money.

You must have heard 1% strategy in trading, the same can be applied in gambling too and believe me, you will feel a lot more comfortable using this 1% of your money in every game.
This also gives you a lot of games to play before you end up on your money as on every bet you will use 1% of your money. In case you lose all bets, you will be playing 100 games because your money is exhausted.


The Lower-Risk Gambling Guidelines

Nah, I don't think that there's a rigid guidelines for gamblers maybe 1% income could be big for some families and that's why they can't afford to bet. But for others 1% is nothing. And as what we have been preaching, just gamble the money that you can afford to lose, that's it, no need to overcomplicated things when certain percentage of whatnot.

Of course everyone should be a responsible gambler, we can't stress that enough. However, different folks, different strokes.

And as gambler myself, I don't have this kind of strategy, just manage your bankroll with or without any percentage and you will be fine.

[Wexnident]

~

I've seen it before but I rarely try it since I usually don't gamble monthly, lately anyway. It's more like I gamble whenever I feel like it and in most cases, it's around every 2 maybe 3 months. Ofc the amount never goes past a set amount but it's usually more than 1% (or in this case, 2-3%) of my income since it'd be way too low. I usually separate my funds into bills, emergencies, funding, and enjoyment. It usually depends but it's not that odd for me to spend said funds for enjoyment solely for gambling sometimes. I usually play only a couple of games anyway though it might be different during tournament seasons of some of th eSports I watch. Now those I actively bet in.

[wheelz1200]

Its all dependent on your actual income vs expenses it has nothing to do with a certain percentage.  For a billionaire losing 1% or $10million it might not change their day one bit.  But for someone who loses $1,000 and males 100,000 a year with a family and massive amount of expenses.  That $1,000 might be gbling away a car payment or a mortgage payment.  2 different things.

[ralle14]

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game?

Unfortunately, I rarely follow this strategy, because i've mentioned in some of my older posts that I would always go bigger whenever I see profitable opportunities through promotions and contests that I know would give me a slightly risk-free profit.

Plus, I make sure to go slightly above the casino's minimum withdrawal because it sometimes bothers me that I have some money lying around in my casino account, and the safest way to get that money out of the site is to make another deposit and play with the highest win probability to clear the deposit rollover.

[Yaunfitda]

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game?

Unfortunately, I rarely follow this strategy, because i've mentioned in some of my older posts that I would always go bigger whenever I see profitable opportunities through promotions and contests that I know would give me a slightly risk-free profit.

Same here, it's hard to really box yourself to a certain numbers, we are gamblers, so we take risk that others might not understand. As you have said, like in the NBA that we bet, sometimes we see some underdog that has a good chance to win as per our analysis. So we shell out big money because we have a hunch that who knows we might get big in here. So if we already have like gamble 1% then obviously we don't have the money already as we already used it.

Might be good strategy for others though, as least those who just leisurely played on weekends or only on a few days. But for heavy gamblers who likes to bet at least every other day or everyday for that matter, this strategy is not going to work.

[len01]

I might apply this method but maybe only under 5%, no more, but what we need to remember here is just about how we can commit to plans we have set because emotions and greed always bother us when we want to hold tightly to that commitment and TBH, I even though I have plan before betting, sometimes I can still get emotional and deposit again in same amount.

this means that all of this goes back to guidelines of each gambler on how they can manage their financial needs through gambling and if someone is successful, they are always committed to strictly adhering to the rules that have been determined. I guarantee that gambler is a responsible gambler who is free from the bad risks of gambling.

[Hirose UK]

Maybe that is the best way to save money in gambling and if we lose then it is not loss for us but with the figure 1% can it really make us feel satisfaction or pleasure because the figure 1% is very small.
If you have large income then this amount might be said to be good enough to use in several game sessions, but for those with a small income, I don't think you will be able to do so.
After all, every gambler has different emotional level, at the beginning it is easy to just use that amount but when you enter half the game the desire or adrenaline appears to bet bigger.
And I sure those rich people out there who like to gamble wouldn't be able to only use 1% of their income to gamble, they would definitely use more money, like 5% to 20% of their monthly income.

So far there are still very few gamblers who are able to have patent limits or actually gamble with what they have determined.
Most gamblers always use extra money to get an edge or have a bigger win if they are lucky.

[klidex]

that is good financial management but it seem that not all gamblers gamble with minimal management that gambler will use according to their abilities and in my opinion gambling expenses depend on the income of each individual for example you have a monthly income of $500 and only use 1% which is $5 in my opinion. It's too little for gambler who are used to gambling activities to be able to make a profit from gambling with a capital of $5. In my opinion, it's too little, especially if you want to bet on sport where you only get a small profits and will probably use 3% of your $500 incomed.

However, if your income is more than $500, for example $1000, it doesn't matter because 1% is $10, which means it can't be said to be small (for my local money) and you don't lot of losses and you can make a decent profit (if you can).
so in my opinion it's up to the gambler to conclude no matter how small the expenses as long as they don't interfere with your household need, the most important thing is to be able to manage your finances well and not get too caught up in gambling.

[Fiatless]

You must have heard 1% strategy in trading, the same can be applied in gambling too and believe me, you will feel a lot more comfortable using this 1% of your money in every game.
This also gives you a lot of games to play before you end up on your money as on every bet you will use 1% of your money. In case you lose all bets, you will be playing 100 games because your money is exhausted.

Having a gambling budget is very important to every player because it would help to reduce uncontrollable gambling which can result in regrettable losses. But in some cases, big winners went above the gambling budget before they won big. Sometimes one might have the hunch to go above his budget because he is moved to do it. This action is what brings big wins. In gambling and every other activity, we know that the higher the risk, the greater the chances of winning big.

But this doesn't mean that you should bet what you cannot afford to lose or take a loan to gamble. It's gambling within your means but occasionally going above your budget. 

Its all dependent on your actual income vs expenses it has nothing to do with a certain percentage.  For a billionaire losing 1% or $10million it might not change their day one bit.  But for someone who loses $1,000 and males 100,000 a year with a family and massive amount of expenses.  That $1,000 might be gbling away a car payment or a mortgage payment.  2 different things.

The 1% strategy is just a suggestion from someone, which means everyone is supposed to have his gambling budget based on income and expenses. To some persons, the 1% is an insignificant part of their income so they can afford to spend it on gambling while others might need to reduce or even increase the percentage.

[bluebit25]

Excessive security does not make gambling more interesting, because there are no rules to follow when spending money on gambling games. I might be willing to spend 10% of my monthly income on betting, but of course it doesn't happen often, and gambling doesn't force me to play, and I want to actively seek comfort when in contact with it. But I absolutely believe this strategy's recommendations can be applied to those pursuing this field in a strategic way to bring in new revenue streams. Perhaps this is just a small part of the entire guide to money management here.

[aioc]

Guideline 1: Gamble no more than 1% of household income
Don’t bet more than 1% of your household income before tax per month. For example, someone with a household income of $70,000 before tax should gamble no more than $58 per month.

Mine is from 2 - 5% and I stick to that and will not go above that, there was a time that I allocated lower that amount but I ended up adding more to satisfy my gambling desire, the most important thing is you are comfortable with the amount or percentage and your budget will not harm the family's monthly budget because if you are gambling more than what you can afford to lose, you will end up taking a loan and loans have interest attach to it.

With the right allocation, your family will not have a deficit in what they need and you will enjoy playing, without thinking that you badly need to win because your family is short in their budget.

[rodskee]

Guideline 1: Gamble no more than 1% of household income
Don’t bet more than 1% of your household income before tax per month. For example, someone with a household income of $70,000 before tax should gamble no more than $58 per month.

Recently I decided to risk only 1 percent of my gambling portfolio into each bet. This makes my bet risk free as I know that even if I lose the bet i will lose only 1% of my gambling money.

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game? This way not only we are safe from losing big amounts but at the same time, we never find ourselves in a situation where we go all in, in some bet and then have the fear of losing all of our money.

You must have heard 1% strategy in trading, the same can be applied in gambling too and believe me, you will feel a lot more comfortable using this 1% of your money in every game.
This also gives you a lot of games to play before you end up on your money as on every bet you will use 1% of your money. In case you lose all bets, you will be playing 100 games because your money is exhausted.


The Lower-Risk Gambling Guidelines

I am not sure if I can handle spending 1% for each gambling? you are so controlling your desire t
o gamble so why need to do it? I mean since you are responsible gambler then why not stop gambling and focus in other
form and profiteering? unless you are just enjoying in here so you can only use that 1% that very rare from other gamblers
if not the majority of us, I myself cannot guarantee in single moment that i can manage spending only that small percentage.

1% gambling style is okay as long as it does not affect you financially.

I'm pretty sure that this wont even affect his salary because that is just 1% of the folio he has .and
from my perspective that is too cheap to lose than just playing without even planning for tomorrow, OP seems to be one of
the best gambler I even heard.

[Finestream]

Excessive security does not make gambling more interesting, because there are no rules to follow when spending money on gambling games. I might be willing to spend 10% of my monthly income on betting, but of course it doesn't happen often, and gambling doesn't force me to play, and I want to actively seek comfort when in contact with it. But I absolutely believe this strategy's recommendations can be applied to those pursuing this field in a strategic way to bring in new revenue streams. Perhaps this is just a small part of the entire guide to money management here.

I gotta agree with this, if we aren't risk taker then we shouldn't be gambling. 1% is quite low for majority of the gamblers, and since majority aren't earning huge salary on a monthly basis, that 1% might not even excite them anymore.

Maybe we should start with asking how much as the average salary on majority of the gamblers. My wide guess is less than $1000... So 1% of that, just guess, the answer will give you an interest not to gamble anymore.

This percentage if followed will only discourage gamblers from enjoy this entertainment thing.

[bitbollo]

It is a very smart idea to decide to play small portions of your betting portfolio but in general decide to allocate only part of your budget to this activity.
the important thing is to always be able to maintain this form of discipline...

[Kelvinid]

Well, 1% is big enough especially for those who only have a small income but for rich people, that was just a penny amount for them. But no matter if it is small or big, at least we are certain of how much we are willing to gamble. At least we have measurements from when I stopped gambling because it is very important in gambling otherwise, we probably use all the money we have.
A responsible gambler knows about their limitations as we can't urge ourselves to gamble like there is no tomorrow. In fact, it is just having fun.

[traderethereum]

Usually, I allocate 10%-15% but that can change according to my financial condition. I haven't gambled for several months because I have needs that must be met and I can still stop myself from gambling.
I still prioritize daily needs rather than gambling because gambling, for me is entertainment that I can use not too often.
Within a month, I also didn't gamble very often, maybe only a few times a week, so up to now, I haven't had any problems playing gambling.
We have to regulate gambling activities so that there are no problems with our daily needs. But whatever allocation of funds for gambling must be adjusted to all the needs you have.
Don't interfere with each other's use of money.

[Litzki1990]

I am not willing to risk even one percent of my portfolio for gambling. I always have some money set aside for gambling and I prefer to gamble with that set aside. The investment I have made is for my future and I am not willing to spend it at all. Since I have separate money, I don't need to spend money from my investment portfolio and risk investing that money. I want to keep my investments separate and my gambling separate. I want to continue investing as well as gambling separately by keeping two different places. The reason for thinking this way is so that gambling does not adversely affect my investment.

[hyudien]

Do you guys also follow a similar strategy like gambling with 1% or 2% on each game? This way not only we are safe from losing big amounts but at the same time, we never find ourselves in a situation where we go all in, in some bet and then have the fear of losing all of our money.

Every gambler must have gambling management like this, at least so that he is more organized in spending money on gambling. Personally we may not be able to be completely consistent with a 1% gambling allocation but there is no harm in continuing to implement it and certainly reducing the number of bets means reducing our targets at the casino. In my opinion it's not a problem because until now aggressive betting has often been done now it's just a little more economical than usual.

[Crypt0Gore]

Using one percent of your income is very good, but I do use more at times because I can still afford more than one percent on gambling, I will say I am between 2 percent most times and if I make unexpected gains from trading I always use a bit more money on gambling.

I don't do the math I just know how much I can risk that won't hurt my feelings if I lose it, very easy to be honest, but the problem is on gamblers side, they instead have a target of what they plan to win, whereas it's better to have a target of what you are willing to Lose.

Some gamblers don't have anything that's bringing profits for them, such people shouldn't be gambling, because they can't afford to lose anything, if you are not working to make money you can't afford to risk anything.

[Jawhead999]

1% is only a peanut and I believe anyone can afford to lose such amount.

Some gamblers are consider to risk 5%-20% of their monthly incomes, which is still not wrong as long as it's not affect to their monthly needs. If every people read about money management before they jump to gamble, no one will suffer gambling addiction.