Risking 1% in Gambling

[nullama]

Yes, the 1% Risking strategy is suitable for high-risk types of businesses or games. Some people will accept a higher level of risk, but I think 1% is quite suitable to help us more easily manage our accounts. It helps us minimize risks to the lowest level, and does not affect our total capital, thereby making our playing psychology more comfortable.
However, it must be added that this is just a tool to help manage risk in gambling, we need to combine it with knowledge, skills and analysis to achieve the best possible results.

At the same time, 1% might be too small amount to even qualify for a minimum bet, or also it could be too much and be over the maximum bet in a casino.

It really depends on what the gambler is comfortably losing. For some, that will be more, and for others it will be less than 1%.

Setting it to a specific percentage seems not to be a generally good idea.

[swogerino]

It looks great to be spending such a small amount monthly from a 70000 dollars yearly.The problem with most people is that they don't make any calculations before jumping in and gambling and that is why many persons do not take notes on how much they lost or earned during their gambling activity.That is the main problem I think that people risk much more than 1% during their gambling activity so that 1% is ideal yet no one seems to apply it.

[Accardo]

-snip-

Gambling with a smart strategy creates a vision for a gambler to observe the game he's into. At some point, if he wishes to embark on a risky session, he can do that calculative. Maybe accumulated spare cash is enough to multiply the game to a high amount. However, it's risky, but not enough to affect the emotions of the players, as he's ready for any outcome. Some players who wager a whole part of their money, face the trouble of dealing with loss. On a lucky day, they may also win big. Yet what matters is being able to withhold the funds after the big win. Not spending back into the game, helps the player at least to take a rest outside of the casino and enjoy his winnings.

You mentioned some great ideas in this paragraph that all gamblers should take into account:

- Calculated risk avoids being affected by emotions.

- We usually forget to enjoy our winnings instead of spending them back in the casino.

However, I'd like to remember that the OP wasn't talking about spending a percentage of his salary, which could lead to emotional distress if it is too high, but about a percentage of his separated money for gambling in each bet.

You're right, but he derived this from an article that encourages gamblers to wager 1% of their monthly income. Which is what I most focused on whenever writing on this thread. However, Op's strategy is quite the best, as he'd never have to worry about his losses. As it's too little to get him worried. As we both know, not every gambler will be comfortable with his strategy. But the general idea that he quoted on the thread looks acceptable to all who wish to stay responsible. They'll never be in any financial trouble in such a family. Because a person who earns over $70k a month wagering only $50-$60 per month, is quite very safe. Such is encouraged. And it shows the gambler is comfortable with his wealth.

Moreover, he doesn't expect a big win, that's roughly 1.5-2$ wagered per day if I'm not wrong. Do you think that amount each day is enough to satisfy a gambler who earns such an amount every month? As I said it's achievable to maintain this strategy, but the size of money each month could be tempting to try again, for a player looking to win big. That's why I encouraged an accumulated high-wagering strategy. He could save up $2 each day and wager about $60 on a game he's a bit sure about. This he can also do once a month. The thrill will also interest him and make gambling fun. Although it's risky, but not for a player who has been determined to be a responsible player. 

[Blitzboy]

I had already commented on this idea or strategy of using 1% of winnings to bet or play in casinos, not being a good idea or strategy for the simple fact that there are cases of people who earn $100 in salary per month, in that case if the If a person took 1% to play per month, then the person would have 1$ to play per month, how the hell would it be possible to use 1$ to play per month? no one would be satisfied with 1$ to play for 1 month. That's why I say this 1% strategy doesn't work. The ideal is for each person to take their monthly income and pay all the bills first, then look at the money they have left and start analyzing what things they want to do for fun that month and how much money they will spend on each thing they want. Gonna have fun that month

You have marked a logical point. A gambler can never be satisfied in gambling with 1 percent of income. Because there are many low income people who gamble and they spend a large part of their income on gambling. According to me a person who understands gambling or is attracted to gambling needs minimum 10% or more money otherwise he cannot gamble. As you said, how can he gamble with 1% of his income on $100. Because depositing $1 on some online gambling platforms will cost $1 or more, which is almost impossible. If he has $100 monthly income and deposits 10 percent in gambling every month, then he can manage gambling. Although that amount is very little.

If a gambler is not addicted and if he is gambling the money left over after meeting the family expenses it will not have much effect either. But regardless of income, if a gambler spends 20% of their income on gambling, I think he can practice responsible gambling. However, due to various reasons, it is difficult to follow the rules in gambling. But if one wants to control himself, he must conduct responsible gambling as possible.

Gambling is more than numbers. The head game is key. Winning and losing are what hook people.

Many gamblers say 1% of income isnt enough. Big spenders can place huge wagers, but most cant. Needing at least 10%? Interesting things happen there. Know the games, have the correct mindset, and have the discipline to handle it all - not just the money.

Gamble for fun, not retirement. Though nice, "responsible gambling" is hard. Call it responsible to spend 20% of what you make? Thats overkill. Anyway, whatever works for you. The key is identifying the risks, setting limitations, and sticking to them. I've made some money, and its not about how much you toss in, but knowing the odds and playing intelligently.

[nullama]

~snip~
Gambling is more than numbers. The head game is key. Winning and losing are what hook people.

Many gamblers say 1% of income isnt enough. Big spenders can place huge wagers, but most cant. Needing at least 10%? Interesting things happen there. Know the games, have the correct mindset, and have the discipline to handle it all - not just the money.

Gamble for fun, not retirement. Though nice, "responsible gambling" is hard. Call it responsible to spend 20% of what you make? Thats overkill. Anyway, whatever works for you. The key is identifying the risks, setting limitations, and sticking to them. I've made some money, and its not about how much you toss in, but knowing the odds and playing intelligently.

You are absolutely right.

And that is the problem.

The system works. Casinos create this whole idea of what a "VIP" is, but in reality it really is a person that is bringing a lot of money to the casino. Most gamblers don't really realize this, but they are paying way more than what they are getting are these casinos.