Risking 1% in Gambling

[noormcs5]

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

[Oshosondy]

Yes I have heard of 1% of weekly income before but I still go for 5% which is not what I can not afford to just lose. But it would be good if someone can go lower like 1%.

There are some weekend that I would win more and leave the rest for the following week or use it for something fun like beer. But there are sometimes that I will lose too. There are many times I just did not go more than 2% weekly because I am busy and unable to gamble more.

Going for just 1% is good. The lesser you go, the better you will be able to afford the loss.

[Natalim]

1% is okay, you'll have fun in gambling if that's a significant amount of money.

However, let's use some figures to really determine if it's still fun to gamble using 1% of your income (after tax)...

Say you are earning $1,000 per month, so your budget will only be $10 per month,... .meh... that's non fun and no way people would be able to follow that rule.

[rhomelmabini]

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.

I believe so, yes and maybe playing as well for 3 consecutive days then the next week stop and then play again the next week. That's how I gamble and it feels really new to do it when you have a break and you get some insights especially if you're researching and taking some analysis on the sports you tend to follow specifically for gambling. Yeah, most of the time we are triggered specially if we lost and we tend to get that losses by not following the objective but I for me I take it as lessons.

[boty]

1% is okay, you'll have fun in gambling if that's a significant amount of money.

However, let's use some figures to really determine if it's still fun to gamble using 1% of your income (after tax)...

Say you are earning $1,000 per month, so your budget will only be $10 per month,... .meh... that's non fun and no way people would be able to follow that rule.

I agree with you that it is very unlikely that this can be done, because remembering that people who have not experienced a gambling addiction use the income they get to gamble more than the amount mentioned and if they have experienced a gambling addiction, there may even be more. whose entire income is used for gambling because they cannot control themselves in gambling, but in my opinion if we use around 15% or 20% of the income we get, I think this is still possible.

[Agbamoni]

This can be considered as a safe strategy but the outcome and the potential winnings is low. However, this mostly depends on the equivalent of the one percent to your local money. For instance if you have hundred dollars as your portfolio and that one percent is 1 dollar. If you use that amount to place a bet of 2 odd, your winning will be 2 dollars. So this is why I do not prefer this strategy. Although it won't hurt If you lose the one dollar because it is a small amount. I do prefer to gamble based on the how high or low the odd is. If I have something like 2 odds I could risk 10$ to 20$ from my portfolio to gamble. But if the odds are high, like 20 to 50 odds. I'll rather bet with 2 to 3 dollars. This is how I prefer. In general the higher the odd the lower the percentage while the lower the odd the higher the percentage.

[Odohu]

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

When the argument of luck versus skill was hot in this forum, I was part of those that supported that strategy is as important as luck. I understand that a lot of people have already concluded that gambling is entirely luck driven, I differ on this because with good strategy, one will be able to navigate through days the luck may not shine. One thing I have always known is that the longer you stay in the business, the higher your chances of winning. To stay long, risk management is key and all these are what constitute the strategy.

Risking 1% is a very good decision that can keep one in the game for a very long time. You cannot be that unlucky not to win in a stretch of hundred bets.

[danherbias07]

I think I am at 3 percent of my salary is what I use in gambling but I don't do it twice a month, more like just once a month and I try very hard to make it last as long as it can so that my wagering amount could go as high as possible.
It's enough for me and if ever it loses early then I stop. It's better that way to avoid addiction and also so that I could do more of my responsibilities in the house.
When you go hard in gambling, it's difficult to do housework because the eyes are always looking at what may happen to your capital. I don't like it that way. IMO, just checking the balance every 2 hours should be enough, or whenever the autobet feature stops.
You might have a good salary that's why you are using 1 percent. I don't. 1 percent might not be enough to reach the RTP that is set in each gambling site. I might get rekt early and cannot get it back with that balance.

[Wapfika]

I don’t give much specific percentage but I’m relying only on my current free money and deposit the same amount which I’m always using in gambling. I’m usually using only an amount equivalent to my signature campaign earning so that everything that I will lose is just from my side hustle here. There’s rare scenarios that I deposit using from my pocket money but this due to extreme conditions and not frequent to happen.

I don’t compute for specific percentage since I don’t want to allocate funds to gamble using my job salary so that my personal savings will be safe no matter what is the result of my game.

[Lida93]

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.

oh yeah, this is a fine strategy to save you money and keep you on many streaks but that's doesn't depict that you have to sleep in the bet shop or keep gambling all the day you must make for yourself a time limit you should be spending on gambling at every time you are to gamble.

But we shouldn't forget that by using of 1% for each game your potential amount to win will also be of a very small percent except you want to accumulate odds raise the amount to be won which increases your risk dropping your chances of winning.  If am gambling for fun and self entertainment I wouldn't have trouble with this strategy as it has the potent to increase how many chances I have to enjoy my gambling but not for a gambler that's gambling to make money from it. The 1% won't settle down well with such gambler who will chose to use bigger amount to stake with smaller odds.

[_act_]

I don’t give much specific percentage but I’m relying only on my current free money and deposit the same amount which I’m always using in gambling. I’m usually using only an amount equivalent to my signature campaign earning so that everything that I will lose is just from my side hustle here.

If you consider signature campaign earning as something fun and not hustling, it is a free money. But you are considering it as a side hustle. I can not use my side hustle to gamble. Hustling is hustling for money and not free money. I will join all my earning together and take just little amount not more than 5% from it and use it to gamble. But maybe this your side hustle is just little amount to your salary.

I don’t compute for specific percentage since I don’t want to allocate funds to gamble using my job salary so that my personal savings will be safe no matter what is the result of my game.

Good idea, if the money you are receiving from your side hustle is far more.

[uneng]

For me betting 1% of your bankroll as base bet is a very high beginning, because you have to take into consideration that long loss streaks will hit often, therefore you have to keep increasing your bets in this case. If you already start with 1% of bankroll on the table, it means you won't have a big margin to increase further bets, if necessary. In my opinion it's much better to start betting only 0,1% of your bankroll.

Anyway, it's never going to be risk free, since there is always a risk of losing money in gambling. The positive side of betting a low percentage of your bankroll is that it allows you to maintain it for longer, instead of wasting everything in few minutes of gambling session.

[ryzaadit]

Can you do experience with a really long time.

At least more than 3month+ and update to use? I mean every strategy is always good but in the field is always different. I have some experience getting a target around 30$/days and guess what ?

Getting trigered on day 24.

[Latviand]

1% isn't a lot and it looks to me like if you do allocate this for your gambling habit, you will probably end up having to end your games unsatisfied because I assume that that's not a lot of money and you will likely to end in a lose which leaves you frustrated too since the Gambler's fallacy within you is going to act up and then you will end up having to bend your promise of spending just 1% of your income to gambling which will snowball to 5% then to 10% until you go beyond the tolerable amount. For me, it's best if you don't do percentage when it comes to budgeting, set a real amount so your mind is tricked into not going overboard.

[Yogee]

I don't think I could ever do that on a consistent basis. I don't even see the point of "gambling" with 1% in every game. That's more like you paying for an entertainment similar to watching some movies or just spending to kill time since you got nothing else to do. The only gain I see here is collecting some points to level up your account and get some perks or rewards.

[Wiwo]

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 the 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

Many times I lost after trying to go beyond a high percentage of total gambling and I believe that a 1% budget is still very ok and lower the risk at all time,  some time what leads to a lot of losses,  so for that we need to put every possible measures in place that will guarantee us a safe and secured winning at the end of the day.

So for such, there is a need to set a lower leverage that guarantees us a lower risk and higher chances of winning the bets or making profits in trades as the case may be.

[Davidvictorson]

Yes I have heard of 1% of weekly income before but I still go for 5% which is not what I can not afford to just lose. But it would be good if someone can go lower like 1%.

There are some weekend that I would win more and leave the rest for the following week or use it for something fun like beer. But there are sometimes that I will lose too. There are many times I just did not go more than 2% weekly because I am busy and unable to gamble more.

Going for just 1% is good. The lesser you go, the better you will be able to afford the loss.

Despite this strategy of 1% working for some people, I prefer to stick with the percentage that has always produced results for me, the 2%- 5%. And when I win, I withdraw, 90% of the winnings. The one left in the wallet is the 2% -5% for wagering again. I never try to cross the 5% benchmark outside of that is money that I know I cannot afford to lose. If the 1% works for you, fine and any newbie can take a cue from you if they are looking for where to start with the percentage of their income they are willing to risk.

[Gozie51]

Although it is economical to use 1% of your income to gamble, it shows you are prudent in your finance but I wonder how much percentage you will win since the bankroll may be small depending on your salary. However, if the winning is steady, it increase your bankroll to go a little higher. But to gamble with family money has to be in agreement with members of the family so that when you lose out the 1% from the salary, you won't have any explanation to do to your wife since she is already aware you are risking 1% out for gambling.

[TimtheYoutuber]

"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."

This is not risk free. But this is a type of bankroll management strategy. Typically people call this units. You bet X amount of units on games, so that you're not going all in on something.

[Hispo]

Here in the gambling section of the forum, we have talked about what the suitable percentage for anyone of us to wager is, compared to our household income. During such debates there is people who throw numbers of all kinds, some say 2-5% is okey, while others dare to be venture into double digits and get to 10%.
I would say 1% is pretty safe for most people and it is a percentage which (while respected) should not translate to massive loss or economical problems.
By the way, when I first read this thread I thought you mean wagering using a favorable risk of 1%, instead talking about budget.