Risking 1% in Gambling

[goldkingcoiner]

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

That is exactly what I am doing, except I use 10% of disposable income. After taking care of bills and saving some money aside, whatever is left is 10% gambling max. and 90% for other. So from a perspective of the entire income, I would say no more than 5%. Furthermore, I restrict myself on a daily limit. The formula is simple, you just divide your 1-5% gambling funds by the number of days in a month. So its like 1/30th of 5%.

But this strategy really needs discipline on the gamblers side. Otherwise it does not work, for example: the gambler is feeling lucky or frustrated and decides to randomly add more to his gambling funds even though he is over the max daily limit.

[yahoo62278]

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

No risk no reward. If you are gambling to have fun and make a sporting event a little more entertaining, than this is a decent strategy. If you are looking to make big money, obviously this strategy will not do it for you unless you make a ridiculously big parlay and get lucky.

[EluguHcman]

Yeah it is sometimes like that. Just as setting up a responsible gambling portfolio is demanded not to exceed our gambling limit, it is better a minimum percentage is left over than always staying to maintain the mentality that.... I just have to empty the remaining funds in the portfolio since it has been already been projected for gambling and I can still refill again.

Sometimes taking breaks on gambling help one to minimize risky stakes and looses by abstaining from the gambling tables.

But at OP, the truth is that it is hard gambling with just 1% of your gambling portfolio because it is mentally otherwise that you never gambled. And the negative effects of staking your gambling budgeted portfolio is that sometimes ahead of time you might be  inspired that you have more than as usual staked in your portfolio which eventually would caused you  gambling without realizing you are loosing because you may otherwise say.... Let the go after all it was already set for it and would had even been lost long ago but nevertheless, it is encouraging to safe more on your gambling portfolio budgets than lives to emptying even when it doesn't yield you winnings. That is usually how gamblers looses their funds and says it is a fun game

[maydna]

That's good, @OP because at least you've reduced the risk of losing with the amount of money you can afford. I also do that, but I don't know what percentage I use. The important thing is that it is money that I can afford and that I also do not exceed the limits of what I can afford. I don't want to spend more money on gambling because I have other needs that I need to meet, so I try to stick to those limits. And I also don't gamble too often because it can cause problems for me. Until now, I am still safe in gambling and have not had any problems even though I still experience a loss of self-control. But I can still control myself well and can stop it immediately.

[ChiBitCTy]

For me it's all about the dollar amount ( or bitcoin amount, technically ) and not a percentage, so I'm not sure where I stand percentage wise.  I typically have a set amount that I'm willing to gamble on each game.  If I feel confident I typically bet $25 worth of bitcoin.  If I'm very confident I tend to bet anywhere from $50-100 in bitcoin.  I feel you, I don't take a ton or risk and it's much less stressful.  I don't have huge upside, but I'm okay with that.

[Lorence.xD]

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.

Well, if you are in control of your gambling habit, for sure earning $1000 is not that huge to gamble almost $100 as you have daily expenses to pay, if you are not alone then the  15%-20% would sound possible if you are only taking care of yourself as you can the budget on your own, so you have spare money to gamble. I agree that gambling with just $100 wouldn't be so fun as you could lose it all without having fun with just a few rounds, but we also need to take care of our own responsibility especially if we have a family to feed. You could make your own rules like making your own portfolio to limit yourself to avoid surpassing the amount of money you have, cause still, I believe that once you are gambling, you might not even think with your plan as emotion starts to kick.

[Yatsan]

For me it's all about the dollar amount ( or bitcoin amount, technically ) and not a percentage, so I'm not sure where I stand percentage wise.  I typically have a set amount that I'm willing to gamble on each game.  If I feel confident I typically bet $25 worth of bitcoin.  If I'm very confident I tend to bet anywhere from $50-100 in bitcoin.  I feel you, I don't take a ton or risk and it's much less stressful.  I don't have huge upside, but I'm okay with that.

Maybe he's referring to the percentage of his bankroll maybe for a single day or month. Such that he would only bet 1% of that bankroll in each bet in order to prolong his capital and avoid huge loss. However if his aim is to be profitable then small amounts lead to small profit. There are times you would be crossing your tolerance especially if you are having a strong feeling that it would be a winning bet. Well nothing would assure winning hut that simply makes gambling beautiful; you just have to have a sense of control in order to not make your losses continuous such that if you've lost a bigger amount than your usual bet then your next bet should again be your usual than to force things with another big amount because of frustration to get back with what you've lost.

[Accardo]

Read through the blog post and it's quite interesting. This method of bank roll management will always allow the gambler to have more left over money to save and tackle other financial responsibilities. The only problem would be on the gambler, whether he'd abide completely by such strategy when his games become too fun. Or during more wins. We should also know that winning is also possible, with this type of gambling strategy. The gambler can take advantage and play with his winnings, thereby extending his gambling duration. Yet, reading downwards on the article, I saw a sub heading stating we should gamble only 4 days in one month. Don't know if he really meant 4 days as per 96 hours a month, or just 4 times a month. The purpose of all these is to remain in control of our thoughts while gambling. The way I've noticed gambling affects our brain, is by the remorse we feel after losing money that would have been used to settle financial problem in the household. Hence using his mathematical analysis, everyone can know the actual amount to use for gambling each month. Not to be affected by excessive gambling.

[Slow death]

In my opinion, setting 1% of the money a person earns to be directed towards games seems to me like it could create problems for people, because let's imagine that a person earns 10 million dollars a month, so if that person keeps taking 1% to play , he will be playing with a good amount per month, but if a person who earns $100 per month takes 1% to play he will have nothing. I think that what people need to do is first pay all their household bills and then make a list of the things they will do to have fun and after that the person who likes gambling can take part of the money intended for fun and keep playing

That way the house bills are paid, the other people in the house had fun and he, being the only one involved in gambling, can go play without worrying about winning or losing, because that money that the guy will be putting into the casino is already It is being seen as lost money, so the person plays responsibly and without pressure. The bills for a house are values that vary each month, for example if in month Therefore, it would not be realistic for a person to keep putting 1% towards games or putting a fixed amount towards the game. The less money a person has to gamble, the greater the temptation the person will have to think about making money through gambling, and this will lead to addiction and destruction. It's always good for people to be able to stop playing for a while and then start playing again, this helps a lot in maintaining self-control

[DaNNy001]

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

The one percent is not a bad strategy too but I like to think some gambler would argue that this will just make them go with higher risk like playing multiple parley selection to increase the odds to actually get some potential profits in return from their gambling habits but thats for those that are see gambling as something they can make some cash from. Some just gamble for entertainment and will enjoy this particular idea of your better as the risk involved is very low as it's just 1% of your earning and this will not provide any cost for alarm

[Sunderland]

- snip -

For me its good in theory but not in practice, there will be time that we will get a consecutive losses and soon or later you will be force to raising the bet amount and forget the 1% theory.
But yeah that is a Money Management and the result might be good for some people.

An if I may suggest, how about if you place a single bet with 1% or 2% of your gambling portfolio and yolo it when the bet won, if it won again then bet another yolo and stop after 3 winning streak.
And if it lose on any stage, always back to the base bet (1 or 2%).

[stomachgrowls]

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

Whenever we do speak about bankroll handling then % will really be that depending on you since not all would really be that having on the same approach on how much money they could really be able to afford into each bet. We do have different level of risks tolerance on which it would be just that normal that numbers will really vary because some are really that mindful about protecting their bankroll but there are those people who
do really loves on making that all in kind of betting on which there would really be difference in between gamblers. Basing up on the % on what you are talking which is on playing around 1% to 2 then it would be just that small but we cant deny that this would really be that relevant if the amount or bankroll you do have is big, therefore 1% of that might be giving that significant numbers but if we do speak about few
bucks or a hundred then it would be an another story.

We know that most bettors are really that impatient on which means that they cant really be able to maintain that 1% bankroll betting whici i do highly believe
that this where most bettors would be thinking yet even myself cant really totally make out this kind of betting on which it is something that
give some boredome. 

[CryptSafe]

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

[Fortify]

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.

It sounds like another dumb strategy and illusion that some gamblers like to fantasize in their heads. It doesn't change the risk involved in the bet at all, if you lose this buy in amount a hundred times because you take crappy bets, then all you are doing is dragging out your bank roll and it has zero relation to your chances of winning a profit. You are committing death by a thousand papercuts as the analogy goes. You throw around works like "risk free" and "safe" with very little understanding of what these things mean in the context of gambling. There is never anything risk free in the world of gambling your own money, as the house is always seeking to take it from you at their advantage.

[Johnyz]

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

Having this kind of budgeting strategy is always a good idea, this only means that you are being responsible and you really know where to spend your money the most. We know the risk of gambling and by doing this, you are eliminating such risk and you just gamble for fun and not for the profit since it is not guaranteed. You might be tempted to increase this budget though and its fine as long as you are still within the budget and as long as you are just spending your extra money.

[Assface16678]

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

No risk no reward. If you are gambling to have fun and make a sporting event a little more entertaining, than this is a decent strategy. If you are looking to make big money, obviously this strategy will not do it for you unless you make a ridiculously big parlay and get lucky.

Well, you have a point, but I don't think the OP is aiming to earn more or a lot; itseems like gambling for fun and to earn, in between, or maybe just neutral, just using 1% of his income, as he said, just to, you know, past time or what. I can't say the exact word. Its like you are betting without hoping to win a lot but still doing it. Every salary comes just in case you hit big, or something like that. For me, I stretched my percentage to 5–10% depending on my mood, but it will never go up to 10% of my salary because even if I don't hope to win in gambling, I just want to have leverage so that if I win, I can earn more because of how much capital I use in a bet. It perfectly works for me; even if I lose that percentage of my salary, it's like nothing to me.

[Wakate]

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

If we relate what op had explained to sport bets, this would be a big opportunity for us to stay focused and make better profits from betting. Risking just 1% or 2% of our gambling portfolio is a good move for us to stay more profitable in the market while risking less. Gambling has a lot of risks if we don't know how to go about but for those that know how to measure there risk and stay focused with less risks and bigger profit ratio. I have not tried betting with just 1% of my total portfolio but this might be a good move for one to risk little to win more if we can bet on more matches with small stake.

[CryptSafe]

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

If we relate what op had explained to sport bets, this would be a big opportunity for us to stay focused and make better profits from betting. Risking just 1% or 2% of our gambling portfolio is a good move for us to stay more profitable in the market while risking less. Gambling has a lot of risks if we don't know how to go about but for those that know how to measure there risk and stay focused with less risks and bigger profit ratio. I have not tried betting with just 1% of my total portfolio but this might be a good move for one to risk little to win more if we can bet on more matches with small stake.

I think betting with such an amount would be very convenient for those with such budget because that is within their strength. This is more of the economic principles of minimising input to maximise profit. Here your gambling bugdet is just 1%  of your income for some people it would be a huge amount based on their income level and some too it might be a little fee but all of them is still at their convenient to maximise profit. But one thing I think is their aim is to gamble responsibly irrespective of the win or lose if at all they encounter such, I think their mindset about it is just to gamble for fun.

[o48o]

-cut-
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.
-cut-

I have tried this, but problem with this tactic is that statistically you end up making more bets for same gains. If you make 100 bets, you have more changes to get losing bets that end up wiping your winnings. So i changed it to waiting for obvious results in live betting and raising the stakes for them.

When game has been played long enough and other side is winning so hard that' there's most likely not enough time to make enough points for even a draw. Often there aren't any gambling opportunities for bets like that but there always some when i look hard enough and wait. I raise the stakes enough to odds being worth it. Not everything though, as if i end up losing, i still have something left to gamble with

So far this tactic is looking good, but i can totally see some flaws in it that might end my winning streak.

[goaldigger]

1% gambling style is okay as long as it does not affect you financially. Some people prefer 5% and some more as the case may be according to their income. Although there is nothing bad about that and they settled for it because they feel it is within their capacity to handle even if they loss in the cause of gambling it would not affect them in anyways. I think this decision is quite alright for a responsible gambler and one who just gambles for fun.

There’s nothing wrong about being responsible and with this, I can tell that you can be more happy and enjoy gambling knowing that you are responsible enough to deal with this. Gambling can be very risky, and its a good strategy to limit your exposure as much as possible. Again, if you are going to do this make sure you complete everything that you need first before setting up a budget for you gambling activities for the Month, though this is not necessary and it will still depend on how you budget your money.