Risking 1% in Gambling

[stadus]

Gambling really is for the lucky to be honest.

Everyone will get there with the hopes of winning or at least to have a good time.

It's only the few lucky ones that end up actually winning something.

And they are just randomly sampled. There's no correlation between how good player you are and how much you win.

I want to deviate on that. I will continue to believe that gambling is for skilled people who can be profitable in the long run. Because if you rely on luck, you are not gonna end up winning, you might if you are extremely lucky like you are hitting a jackpot (one time big time), but if you only hit a minimal amount you will still come back again to gamble, and eventually you'll lose. That's the edge we have, and we can never beat that.

So, in my case, I try to learn and develop my skills so one day I'll make a living in gambling. ... sounds impossible, right? But that's just me...

[teamsherry]

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'm not really that kind of person that wants to risk little, once and if I allocate anything to gamble then I'm sure having a shot at it, im not really the big odds type, so I go for the all odds and hit that bag, maybe a couple double or triple on my money and I'm done for the week, unless I have need to again or saw a sure game that I think would play our fine.

[someone703]

Gambling can be a fun way to spend some time, like watching a game with some extra spice on the line. But anyone who thinks it's a guaranteed route to riches is probably chasing a rainbow.  The odds are stacked against you, kind of like winning every single carnival game – possible, but not exactly likely.

We all know stories of people hitting the jackpot, but for every one of those, there are way more folks walking away lighter in the wallet.  It's like that friend who insists on that scratch-off ticket every week – all fun and hope, until their wallet starts looking a bit thin.

So, the real question is: when to gamble? Here's my advice: only play if you can afford to lose what you're betting.  Think of it as entertainment, not an investment in your future mansion (unless you own the casino, that's a different story).

[Dewi Aries]

Gambling really is for the lucky to be honest.

Everyone will get there with the hopes of winning or at least to have a good time.

It's only the few lucky ones that end up actually winning something.

And they are just randomly sampled. There's no correlation between how good player you are and how much you win.

I want to deviate on that. I will continue to believe that gambling is for skilled people who can be profitable in the long run. Because if you rely on luck, you are not gonna end up winning, you might if you are extremely lucky like you are hitting a jackpot (one time big time), but if you only hit a minimal amount you will still come back again to gamble, and eventually you'll lose. That's the edge we have, and we can never beat that.

So, in my case, I try to learn and develop my skills so one day I'll make a living in gambling. ... sounds impossible, right? But that's just me...

This sounds to be different, if we put the goal of earning in gambling then yes obviously the skilled will be superior to a newbie coming in, but the skilled can never be superior to the house or the casino as they are basically the ones who create and design all the games that are provided in such a way. So with this I would probably say that the idea of making what you say in gambling in the long run has very little chance of success, because things can't always be predicted accurately no matter how skilled you are.

You've said that it's very difficult to rely on luck to really make a win, yes that's true, but the problem is that most of the winning results in gambling always refer to how lucky you are when running a session, and anyway your idea of making a living in the long run on gambling in my opinion is too dangerous, I don't prohibit it but it doesn't hurt for us to remind each other even if it's just a suggestion because it also leads to good, but yes you have the freedom in terms of choosing decisions and good luck friend.

[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.

For anyone that is serious about making money while trying to find a consistent strategy in gambling, this sort of approach is very wise and is basically called bankroll management. However in reality you will generally find that most people who are drawn to gambling are not necessarily financially or mathematically savvy. They are often looking for shortcuts to wealth, so if they have a hundred dollars in their account they will usually not have the patience to only be gambling $1 at a time. It's hard to beat bookmakers anyway, so unless you are applying this strategy in a skilled game like poker it will be difficult to find much benefit from managing your money deposited in gambling sites like this.

[EarnOnVictor]

Gambling really is for the lucky to be honest.

Everyone will get there with the hopes of winning or at least to have a good time.

It's only the few lucky ones that end up actually winning something.

And they are just randomly sampled. There's no correlation between how good player you are and how much you win.

I want to deviate on that. I will continue to believe that gambling is for skilled people who can be profitable in the long run. Because if you rely on luck, you are not gonna end up winning, you might if you are extremely lucky like you are hitting a jackpot (one time big time), but if you only hit a minimal amount you will still come back again to gamble, and eventually you'll lose. That's the edge we have, and we can never beat that.

So, in my case, I try to learn and develop my skills so one day I'll make a living in gambling. ... sounds impossible, right? But that's just me...

Maybe it's you I would still encourage to look at it from a better angle. In my conclusion about gambling, skills and luck are both needed, and the more you are fortunate to have skills and attract good luck to yourself in gambling, the better for you. There are aspects of gambling that one may entirely not rely on luck, and that is in the sports betting aspect of it, but when it comes to the casino, you do not have a choice, you need luck in almost all aspects of it. I don't have to explain to you that casino games are basically working based on the algorithm coded in them. This makes it difficult for any skilled and unskilled gamblers to analyse or strategise in any way to actually be winning as they like.

This entirely depends on the luck of the gambler, and if it is not entirely about luck to avoid exaggeration, it is almost all about luck according to my experience. This is why I risk more money on sports betting than casino betting because I do not want to lose my money easily. Recently, I carefully reviewed my bettings on the two of them and discovered that I am way better with sports betting and still very much struggling with casino betting to show the distinction between the two.

For this, it depends on the aspect you are gambling for the advice you issued to be effective, but certainly, it can't be effective with the casino, never.

[KTChampions]

Gambling really is for the lucky to be honest.

Everyone will get there with the hopes of winning or at least to have a good time.

It's only the few lucky ones that end up actually winning something.

And they are just randomly sampled. There's no correlation between how good player you are and how much you win.

I want to deviate on that. I will continue to believe that gambling is for skilled people who can be profitable in the long run. Because if you rely on luck, you are not gonna end up winning, you might if you are extremely lucky like you are hitting a jackpot (one time big time), but if you only hit a minimal amount you will still come back again to gamble, and eventually you'll lose. That's the edge we have, and we can never beat that.

So, in my case, I try to learn and develop my skills so one day I'll make a living in gambling. ... sounds impossible, right? But that's just me...

I would like to know more details about your plan. For example, how do you want to increase your skill in Dice? Or in blackjack, where multi-decks are used and shuffling occurs long before memorizing the eliminated cards can give you any information. If you look at things soberly (judging by your reasoning, you perfectly understand the mechanism of gambling) you should have some kind of real plan. I would really like to know how you will try to avoid losing in a game where the advantage is not on your side.

[Zadicar]

Gambling can be a fun way to spend some time, like watching a game with some extra spice on the line. But anyone who thinks it's a guaranteed route to riches is probably chasing a rainbow.  The odds are stacked against you, kind of like winning every single carnival game – possible, but not exactly likely.

We all know stories of people hitting the jackpot, but for every one of those, there are way more folks walking away lighter in the wallet.  It's like that friend who insists on that scratch-off ticket every week – all fun and hope, until their wallet starts looking a bit thin.

So, the real question is: when to gamble? Here's my advice: only play if you can afford to lose what you're betting.  Think of it as entertainment, not an investment in your future mansion (unless you own the casino, that's a different story).

It totally matters with your own views and perspective and people do mess up their lives just because they do really end up on having that kind of wrong approach towards it because on the time that you do play
gambling and minding about on becoming rich then this is where issues would really be starting to come out or happen because on the moment that you would really be making yourself that delusional then you would really be trying out to play which is really that more than with your usual limit or simply with your budget. If you are that someone who do spend up a huge % on your monthly salary on gambling then
you are just basically putting up yourself on such tough issues and problems which might rise soon.

[pawel7777]

For anyone that is serious about making money while trying to find a consistent strategy in gambling, this sort of approach is very wise and is basically called bankroll management. However in reality you will generally find that most people who are drawn to gambling are not necessarily financially or mathematically savvy. They are often looking for shortcuts to wealth, so if they have a hundred dollars in their account they will usually not have the patience to only be gambling $1 at a time. It's hard to beat bookmakers anyway, so unless you are applying this strategy in a skilled game like poker it will be difficult to find much benefit from managing your money deposited in gambling sites like this.

Not to be rude but if you think that betting 1% of your bankroll on each bet is a "wise" strategy, then maybe you're not very mathematically or financially savvy yourself.
If you want to do it right, you need to consider odds, chances of winning/losing and frequency of events.
Having a hard 1% rule, disregarding the type of game or any other factors is just lazy and silly. In real life, you'll see plenty of instances when 1% could be either not enough or too much.

[nullama]

~snip~
I want to deviate on that. I will continue to believe that gambling is for skilled people who can be profitable in the long run. Because if you rely on luck, you are not gonna end up winning, you might if you are extremely lucky like you are hitting a jackpot (one time big time), but if you only hit a minimal amount you will still come back again to gamble, and eventually you'll lose. That's the edge we have, and we can never beat that.

So, in my case, I try to learn and develop my skills so one day I'll make a living in gambling. ... sounds impossible, right? But that's just me...

There's no secret to gambling, it's all just math and probabilities.

At the end of the day casinos only offer games that have odds that favor them in one way or another so that in the long term the casinos end up winning most of the money.

If you come up with a trick to earn more than what you are supposed to, say by counting cards in blackjack (which actually increases your odds of winning), the casinos will quickly invite you out.

Also, now casinos have changed how they play, for example they add multiple more decks and add the separator around the middle, so that even if you are counting cards, you don't get too much of an advantage as you used to get back in the day.

So, yeah, nothing much you can do other than to have a good time while gambling.

[LUCKMCFLY]

That's right, we should do everything appropriately, because anything done excessively will only result in something that is not good or even bad. especially with gambling where the fact is that losses that can make us lose our money are real and will happen more often, so if we gamble often it's the same as we often lose a lot of money, even though we are ready to lose the money we bet on, that doesn't mean we can gamble. by gambling frequently, of course, gambling appropriately, limiting gambling activities, whether it's the time for gambling or the budget, everything must be done within certain limits so that nothing bad or detrimental happens, it can even harm many parties, not just yourself. Also of course we do have responsibilities towards our own families as you said. pay attention to every expense, at least even though we are not married, our parents will be proud if we can help financially with the economy, such as paying water bills, electricity bills, and schooling for younger siblings if we do have younger siblings. This needs to be paid attention to, therefore we must be able to think about our expenses well, risking just 1% of the income we earn is not bad, as long as we don't lose self-control because if we lose self-control there will of course be disasters that can be detrimental. .

Yes, I agree with you, if we gamble excessively then it is likely that all of our needs will not be met, in fact, what will most likely happen is that there will always be shortages, and of course that will be a problem where when the economy is not met then the destruction of family relationships will occur. or not being able to pay the water and electricity bills, of course we will experience water and electricity blackouts if we cannot pay them. Life can go well without problems if we don't look for problems ourselves, it's like preventing rather than treating. that is what must be emphasized.

What you should do is not play too much , or Play too Frequently , but what you should do is have your expenses on hand and see how much money we are willing to put into the game , Assuming that that money is going to go away , we have to give that money as death, but first fulfill all our basic needs, this includes Expenses, food, Medicine , everything we are willing to do so that we can be calm and financially well , the est will be very Difficult to cope with. even if a lot of money is allocated to the game.

That's why I Always say that thinking about how much money you should spend is not something that should be done in a general way, because we do not know the economic situation of each person, there will always be differences, some People will be more solvent than others, but never the same. In fact, there are people who cannot even Allocate 1% , because it is not enough for them, sometimes they have so many expenses that there is not even any money left to have fun in a casino.

So if there is a formula where mandatory expenses and expenses that can be generated and paid in the long term are included, then that is something Else , Otherwise things can happen in a very different way.

Each person manages their money and each person does not know how they have to do to manage their expenses, hence the question of a responsible person who can play or not in a Casino.

That's something we have to pay attention to early, we have to prepare a certain amount of money that we are willing to lose, because in gambling the possibility of losing is very large. indeed we should have to fulfill basic needs first, because that is our necessity to be able to survive, gambling using the remaining money from everything that has been fulfilled may not be a problem, don't gamble when you have limited money and your needs are met, and Don't expect to have a little money to double it in gambling where you hope to get profitable wins and then be able to meet all your needs, that's not true.

of course everyone has a different economic level and also with different financial income, adjusting the budget for gambling to our situation must be done, if you still have enough money then there is no harm in gambling but if you don't have enough money then don't force it. yourself, it will only invite bigger problems. When there is no money left because you have run out of necessities, it is not recommended to force yourself to gamble, such as borrowing money to gamble, it is not recommended, if you don't have money then don't think about gambling. because money management is also important, when we have income of course we have to be able to manage it well, divide it and prioritize most of it for our needs, don't prioritize gambling and allocate more of it than we need. Just allocate enough, because luck can come when the time is right, even with 1% if you are lucky then you can get a win like what I experienced last night.

Yes, in order to be able to play and be responsible in the game it is not difficult, it is a matter of ordering oneself, of having some responsibility, and it is not difficult but what we have to respect are our own rules, and our own rules. They cannot be broken, because we are people who need a lot of order and many responsibilities, so when we organize ourselves we know very well what we should buy, what we need, this is what I mean food, medicine, paying for services, being responsible with that Yes, when you finish covering those expenses, I think you can take some money to have something to play at the casino.

So you see that's what I mean, in my case I always do that, of course you also have to leave a little money in case of a family emergency, something or an unexpected expense, a virus, anything to be able to cover it, because It would not be your responsibility to spend everything and when someone at home gets sick not to have the opportunity to buy their antibiotics or something.

In view of all these things one can decide how much money one is willing to spend or lose in a casino, this is basically what I do to be able to have order with my things, that is why I give importance to the fact that money must be managed, because for the casino I set aside or that one spends at a movie theater or something like that, that kind of amount.

[wxa7115]

For anyone that is serious about making money while trying to find a consistent strategy in gambling, this sort of approach is very wise and is basically called bankroll management. However in reality you will generally find that most people who are drawn to gambling are not necessarily financially or mathematically savvy. They are often looking for shortcuts to wealth, so if they have a hundred dollars in their account they will usually not have the patience to only be gambling $1 at a time. It's hard to beat bookmakers anyway, so unless you are applying this strategy in a skilled game like poker it will be difficult to find much benefit from managing your money deposited in gambling sites like this.

Not to be rude but if you think that betting 1% of your bankroll on each bet is a "wise" strategy, then maybe you're not very mathematically or financially savvy yourself.
If you want to do it right, you need to consider odds, chances of winning/losing and frequency of events.
Having a hard 1% rule, disregarding the type of game or any other factors is just lazy and silly. In real life, you'll see plenty of instances when 1% could be either not enough or too much.

For those that may want to find out exactly how high their bet needs to be so they can obtain the most profits with it, obviously this assumes the person in question has a way to beat the casinos already, a good way to do this is with the Kelly Criterion.

The Kelly Criterion allows a gambler or a trader to determine how high their bet or their position should be to obtain the most profits, and while like any other formula, it has its critics, you can do a lot worse than to apply the Kelly Criterion.

[junder]

That's something we have to pay attention to early, we have to prepare a certain amount of money that we are willing to lose, because in gambling the possibility of losing is very large. indeed we should have to fulfill basic needs first, because that is our necessity to be able to survive, gambling using the remaining money from everything that has been fulfilled may not be a problem, don't gamble when you have limited money and your needs are met, and Don't expect to have a little money to double it in gambling where you hope to get profitable wins and then be able to meet all your needs, that's not true.

of course everyone has a different economic level and also with different financial income, adjusting the budget for gambling to our situation must be done, if you still have enough money then there is no harm in gambling but if you don't have enough money then don't force it. yourself, it will only invite bigger problems. When there is no money left because you have run out of necessities, it is not recommended to force yourself to gamble, such as borrowing money to gamble, it is not recommended, if you don't have money then don't think about gambling. because money management is also important, when we have income of course we have to be able to manage it well, divide it and prioritize most of it for our needs, don't prioritize gambling and allocate more of it than we need. Just allocate enough, because luck can come when the time is right, even with 1% if you are lucky then you can get a win like what I experienced last night.

Yes, in order to be able to play and be responsible in the game it is not difficult, it is a matter of ordering oneself, of having some responsibility, and it is not difficult but what we have to respect are our own rules, and our own rules. They cannot be broken, because we are people who need a lot of order and many responsibilities, so when we organize ourselves we know very well what we should buy, what we need, this is what I mean food, medicine, paying for services, being responsible with that Yes, when you finish covering those expenses, I think you can take some money to have something to play at the casino.

So you see that's what I mean, in my case I always do that, of course you also have to leave a little money in case of a family emergency, something or an unexpected expense, a virus, anything to be able to cover it, because It would not be your responsibility to spend everything and when someone at home gets sick not to have the opportunity to buy their antibiotics or something.

In view of all these things one can decide how much money one is willing to spend or lose in a casino, this is basically what I do to be able to have order with my things, that is why I give importance to the fact that money must be managed, because for the casino I set aside or that one spends at a movie theater or something like that, that kind of amount.

It's true that it can be done, in fact it has to be done when we gamble, so we have to be able to have self-control, whether it's our own rules that clearly don't lead to losses, or limiting the time and budget for gambling. And also responsibility for everything that happens because of it. actions taken on oneself. However, the fact that gambling can change people's thinking in just a short time is the problem, gambling easily influences the thinking of every gambler, many of whom change their gambling motives when they gamble. Initially they have a target where once they reach the target they will stop, but when they reach the target of course the temptation to gamble is strong so it influences their thinking to continue gambling because they want a bigger win. Many people don't have the strength to maintain their own rules, I'm sure all gamblers have felt this way.
It's true, we should only set aside a small amount of money for gambling, the main thing to pay attention to is needs like you said, namely food, medicine, or paying bills here and there and this and that. and if all of that can be said to be safe and there is still money left over then there is no problem in betting it on gambling. Don't gamble with unmet needs.

We should be able to manage our finances well, manage our finances well or in other words be able to meet our needs, which we should prioritize first, because in my opinion there are also people who don't gamble but their needs are often not met while the income they get is is more than enough, and that's because they can't manage their finances well, tend to spend money as they please, don't think about it and don't consider it first, and I think people like this have fleeting thoughts. when they have money they only think they can buy what they want, but don't pay attention to their exact needs first, only prioritizing desires, not needs, so it is very important that we manage our finances very carefully.

[slapper]

That's something we have to pay attention to early, we have to prepare a certain amount of money that we are willing to lose, because in gambling the possibility of losing is very large. indeed we should have to fulfill basic needs first, because that is our necessity to be able to survive, gambling using the remaining money from everything that has been fulfilled may not be a problem, don't gamble when you have limited money and your needs are met, and Don't expect to have a little money to double it in gambling where you hope to get profitable wins and then be able to meet all your needs, that's not true.

of course everyone has a different economic level and also with different financial income, adjusting the budget for gambling to our situation must be done, if you still have enough money then there is no harm in gambling but if you don't have enough money then don't force it. yourself, it will only invite bigger problems. When there is no money left because you have run out of necessities, it is not recommended to force yourself to gamble, such as borrowing money to gamble, it is not recommended, if you don't have money then don't think about gambling. because money management is also important, when we have income of course we have to be able to manage it well, divide it and prioritize most of it for our needs, don't prioritize gambling and allocate more of it than we need. Just allocate enough, because luck can come when the time is right, even with 1% if you are lucky then you can get a win like what I experienced last night.

Yes, in order to be able to play and be responsible in the game it is not difficult, it is a matter of ordering oneself, of having some responsibility, and it is not difficult but what we have to respect are our own rules, and our own rules. They cannot be broken, because we are people who need a lot of order and many responsibilities, so when we organize ourselves we know very well what we should buy, what we need, this is what I mean food, medicine, paying for services, being responsible with that Yes, when you finish covering those expenses, I think you can take some money to have something to play at the casino.

So you see that's what I mean, in my case I always do that, of course you also have to leave a little money in case of a family emergency, something or an unexpected expense, a virus, anything to be able to cover it, because It would not be your responsibility to spend everything and when someone at home gets sick not to have the opportunity to buy their antibiotics or something.

In view of all these things one can decide how much money one is willing to spend or lose in a casino, this is basically what I do to be able to have order with my things, that is why I give importance to the fact that money must be managed, because for the casino I set aside or that one spends at a movie theater or something like that, that kind of amount.

It's true that it can be done, in fact it has to be done when we gamble, so we have to be able to have self-control, whether it's our own rules that clearly don't lead to losses, or limiting the time and budget for gambling. And also responsibility for everything that happens because of it. actions taken on oneself. However, the fact that gambling can change people's thinking in just a short time is the problem, gambling easily influences the thinking of every gambler, many of whom change their gambling motives when they gamble. Initially they have a target where once they reach the target they will stop, but when they reach the target of course the temptation to gamble is strong so it influences their thinking to continue gambling because they want a bigger win. Many people don't have the strength to maintain their own rules, I'm sure all gamblers have felt this way.
It's true, we should only set aside a small amount of money for gambling, the main thing to pay attention to is needs like you said, namely food, medicine, or paying bills here and there and this and that. and if all of that can be said to be safe and there is still money left over then there is no problem in betting it on gambling. Don't gamble with unmet needs.

We should be able to manage our finances well, manage our finances well or in other words be able to meet our needs, which we should prioritize first, because in my opinion there are also people who don't gamble but their needs are often not met while the income they get is is more than enough, and that's because they can't manage their finances well, tend to spend money as they please, don't think about it and don't consider it first, and I think people like this have fleeting thoughts. when they have money they only think they can buy what they want, but don't pay attention to their exact needs first, only prioritizing desires, not needs, so it is very important that we manage our finances very carefully.

You claim self-control is important, yet gambling contradicts that, right? Setting goals is a facade that will fall. Why? Humans aren't created for "stop while you're ahead" mentality. More, more, more. They, yes, they, think they're in control, setting aside "just enough" for gambling, but isn't that just a self-deception?

You're bold to suggest putting needs before wants. However, gamblers' minds blur those lines fast! They and we start with rules, but the game transforms us, right? Psychological warfare, and guess what? Most are unprepared. Talking about money management is just the beginning. The pursuit and pleasure are more important than the money

And society? It's like a bystander watching the train wreck without helping. This epidemic of choosing wants over needs and living in the today without thinking about tomorrow affects more than just gamblers. The culture of quick satisfaction over long-term planning is the problem. What's the exit? Awareness. Acknowledgment. Action. Both personal and collective. We must change the narrative to build resilience, not regulations

[nullama]

~snip~
For those that may want to find out exactly how high their bet needs to be so they can obtain the most profits with it, obviously this assumes the person in question has a way to beat the casinos already, a good way to do this is with the Kelly Criterion.

The Kelly Criterion allows a gambler or a trader to determine how high their bet or their position should be to obtain the most profits, and while like any other formula, it has its critics, you can do a lot worse than to apply the Kelly Criterion.

The amount of money you bet is basically a multiplier of the odds the casino is playing.

So, even if you bet $1, you will have the same odds as if you gambled $100 or one thousand.

At the end of the day it is just probabilities, and the maximum you can get is basically the maximum you can bet in that game.

Of course, the flip-side to that is that betting the maximum also maximizes the amount you can lose, and the odds are against you, so you will most probably lose it.

[Accardo]

Gambling can be a fun way to spend some time, like watching a game with some extra spice on the line. But anyone who thinks it's a guaranteed route to riches is probably chasing a rainbow.  The odds are stacked against you, kind of like winning every single carnival game – possible, but not exactly likely.

We all know stories of people hitting the jackpot, but for every one of those, there are way more folks walking away lighter in the wallet.  It's like that friend who insists on that scratch-off ticket every week – all fun and hope, until their wallet starts looking a bit thin.

So, the real question is: when to gamble? Here's my advice: only play if you can afford to lose what you're betting.  Think of it as entertainment, not an investment in your future mansion (unless you own the casino, that's a different story).

It totally matters with your own views and perspective and people do mess up their lives just because they do really end up on having that kind of wrong approach towards it because on the time that you do play
gambling and minding about on becoming rich then this is where issues would really be starting to come out or happen because on the moment that you would really be making yourself that delusional then you would really be trying out to play which is really that more than with your usual limit or simply with your budget. If you are that someone who do spend up a huge % on your monthly salary on gambling then
you are just basically putting up yourself on such tough issues and problems which might rise soon.

Going for what is bogus in gambling, is a wrong move that most players don't hesitate to make, for the sake of money. However, we all need money to settle different troubles, but this type of gamblers surprises me by wagering their wins back to the casino. What then do they need in return? Are they looking to shut down the casino with an enormous win? In the sense that a gambler also spends more than earns in gambling, still leaves lots of people wondering over the type of thoughts moving through the brain of gamblers.

Nothing else other than same mentality of humans, trying to get everything they've ever set their eyes upon. Refusing to accept that they may end up not getting those things they wish to get via gambling, lands lot of gamblers into trouble. Wagering few portions of our income is quite a reason form of gambling. It safeguards the wealth of the gambler, unlike other players who throw away their wealth in search of an uncertain wealth.

[benalexis12]

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.

Yeah, 5%, I think, is fine with me because, for example, if the salary of an ordinary person is around $300, then only 1% will come out. Here in our country, the salary of ordinary people in a company only ranges from around 300 to 400 dollars per month.

But in my situation, I only have a limit amount when I gamble in a casino, and it's only around 30 dollars per game. This amount is what I'm willing to lose the day I play gambling, and if I win, it's good luck.

[carlfebz2]

~snip~
For those that may want to find out exactly how high their bet needs to be so they can obtain the most profits with it, obviously this assumes the person in question has a way to beat the casinos already, a good way to do this is with the Kelly Criterion.

The Kelly Criterion allows a gambler or a trader to determine how high their bet or their position should be to obtain the most profits, and while like any other formula, it has its critics, you can do a lot worse than to apply the Kelly Criterion.

The amount of money you bet is basically a multiplier of the odds the casino is playing.

So, even if you bet $1, you will have the same odds as if you gambled $100 or one thousand.

At the end of the day it is just probabilities, and the maximum you can get is basically the maximum you can bet in that game.

Of course, the flip-side to that is that betting the maximum also maximizes the amount you can lose, and the odds are against you, so you will most probably lose it.

This is what other people would be have in mind on which they would really be that assuming things to be that the same when it comes to odds of winning on which it is really that actually true.
This is what that would really be pushing for them to play even more because they do know that odds is odds on hitting up something a winning roll or bet. Risking out 1% out of your
monthly salary isnt really that a bad approach and control that you could really be having because having limits would really be that signifying that you are really that in good control with
your gambling activity on which it is really that a good step for you to be able to avoid up such possible potential problems in the future.

1% is really that actually small honestly on which if you are someone who do earn that small and getting on 1% of it then i doubt that the amount would be that significant.
For sure you wont really be able to make yourself that enjoy on that amount and you would really be tending to add up even more which is i highly doubt that.

[junder]

It's true that it can be done, in fact it has to be done when we gamble, so we have to be able to have self-control, whether it's our own rules that clearly don't lead to losses, or limiting the time and budget for gambling. And also responsibility for everything that happens because of it. actions taken on oneself. However, the fact that gambling can change people's thinking in just a short time is the problem, gambling easily influences the thinking of every gambler, many of whom change their gambling motives when they gamble. Initially they have a target where once they reach the target they will stop, but when they reach the target of course the temptation to gamble is strong so it influences their thinking to continue gambling because they want a bigger win. Many people don't have the strength to maintain their own rules, I'm sure all gamblers have felt this way.
It's true, we should only set aside a small amount of money for gambling, the main thing to pay attention to is needs like you said, namely food, medicine, or paying bills here and there and this and that. and if all of that can be said to be safe and there is still money left over then there is no problem in betting it on gambling. Don't gamble with unmet needs.

We should be able to manage our finances well, manage our finances well or in other words be able to meet our needs, which we should prioritize first, because in my opinion there are also people who don't gamble but their needs are often not met while the income they get is is more than enough, and that's because they can't manage their finances well, tend to spend money as they please, don't think about it and don't consider it first, and I think people like this have fleeting thoughts. when they have money they only think they can buy what they want, but don't pay attention to their exact needs first, only prioritizing desires, not needs, so it is very important that we manage our finances very carefully.

You claim self-control is important, yet gambling contradicts that, right? Setting goals is a facade that will fall. Why? Humans aren't created for "stop while you're ahead" mentality. More, more, more. They, yes, they, think they're in control, setting aside "just enough" for gambling, but isn't that just a self-deception?

You're bold to suggest putting needs before wants. However, gamblers' minds blur those lines fast! They and we start with rules, but the game transforms us, right? Psychological warfare, and guess what? Most are unprepared. Talking about money management is just the beginning. The pursuit and pleasure are more important than the money

And society? It's like a bystander watching the train wreck without helping. This epidemic of choosing wants over needs and living in the today without thinking about tomorrow affects more than just gamblers. The culture of quick satisfaction over long-term planning is the problem. What's the exit? Awareness. Acknowledgment. Action. Both personal and collective. We must change the narrative to build resilience, not regulations

It's true, but do you think that self-control in gambling is not important?
setting aside a little money to gamble, in my opinion it is not self-deception, but something that must be done, because why should we do that? In reality, we have to survive and survive by fulfilling our needs. prioritize and prioritize needs don't try to set aside a lot of money in gambling. with the many cases that have occurred regarding the bad effects of gambling, I think we can use it as a lesson for ourselves so that the same thing doesn't happen by not spending a lot of money on gambling. Do you think wants are more important than needs?
Indeed, the statement that games can change us mentally, and that is because we cannot accept the reality of what happens with gambling and this may also be because we are too hopeful about gambling which can give us a definite win. Therefore, we must be able to see the clear facts that will happen in the gambling we do, and by not doing excessive gambling, such as spending a lot of money just for gambling. Setting aside a little of the income earned can be done if we don't expect more from gambling.

when they have wrong thoughts obviously gambling will change them too as time goes by. including those who only think about gambling, not thinking about the bad impacts or the risk of losing more money. instead of wanting to recover losses, in reality they become increasingly miserable instead of for pleasure, but everything can change when thinking is no longer clear. and in the end they become addicted to gambling, which is a difficult thing to recover from, to be able to recover of course they have to be aware of it themselves, but for them to be able to realize and admit it and then take action for recovery is very difficult, many gamblers fail with the recovery process.

[adpinbr]

Yes, I will actually tell you that it is a smart move. If only you use just 1% or even up to 5% of your gambling post because it will enable you. We stand the pressure of your loss. It affect your mental health that your money is going down Before you lose more and more you would definitely have a little profit that will cover up everything you have lost most people don’t usually follow this strategy some people gamble everything in the portfolio some people gamble 50% some people even gamble everything and add more for their own personal money from their bank to gamble it’s not just a wise idea. Gambling is not competition is something that someone do wisely .