Budgeting starts from personal budget then gambling budget.

[Charles-Tim]

After all types of spending 1% of the rest might be too low for majority of the people. If anyone can warn 1000$ in a month and spend 500$ as monthly expenses then 1% will be only 5$. Don't you think it is too low budgeting for gambling. I think anyone can bet any amount which the person can afford if loses.

If someone is earning $1000 and the person is using $500 on the monthly expenses, that means the person will spend $10 monthly on gambling. The 1% is not calculated from the remaining amount but from the whole amount that the person earned for that period of time. But if the person does not have any savings left or struggling, the person does not need to gamble at all.

Yes, people should gamble with the amount of money that they can afford to lose, but my post is about the recommended amount that a gambler should spend on gambling which will not at all make gambling have any negative effects on the person.

[kryptqnick]

A budget isn’t just a list of expenses — it reflects your inner order. As long as a person spends money without a mindful approach, any attempt to create structure will stay on the surface.
I do agree that starting from the personal budget is a good idea, and within the personal budget, one must start with basic monthly needs like rent, bills, rough amount for monthly food, rough amount for monthly health and miscellaneous expenses.
Then, depending on how well-off you are, you can start budgeting in savings, what goes for presents/other things you do for loved ones and/or charity, on especially tasty food/sports/other activities you enjoy and on gambling.
Making more self-aware choices can be really helpful, I believe.

[madnessteat]

Perhaps you just have to spend on things that you need, plus set aside some savings. If you're tightening the belt and can't have savings, it's probably all right for as long as you've sufficiently provided all your needs.

If in the end, there's nothing left for gambling, then so be it. What's gambling, anyway? Gambling shouldn't even be on the list to be provided budget for. And don't reason out that it's something that could even generate further income for you. That's complete nonsense.

People don't just gamble because they want to make money. Many gamblers play to get a thrill during the gambling session and are willing to pay for it. Everyone has their own preferences for how they get their dopamine and adrenaline rush. Some people go to nightclubs, get drunk, and try their luck there, some participate in street races, and some gamble. All of these activities provide excitement, and all of them require money.

I believe that it is necessary not only to budget for entertainment expenses but also to be able to limit these expenses.

[swogerino]

Fact is that if you've never paid attention to how much you spend on your minor wants, chances are high that you can never make proper budgeting for your gambling.

Sometimes, the amount we spend on things that don't add anything to us is always more than the amount we spend on gambling and for gambling expenses, it's even better because there's a chance that you might win and get a return from what you've put into it but for the regular expenses, once it's gone it's gone for good and it's easy to spend so much on small items without even knowing that a lot is already going into such as long as you're not taking record of such expenses.

If you want to practice proper gambling budgeting and see that it works effectively, you first have to start from personal budgeting and then you can easily implement it in your gambling.

What's your take on this?

I have started lately to mind my finances, gambling was taking a big part of my credit card and we know, nowadays the credit card debt can hit you really hard depending on what limit you have put in dollars there, mine was pretty high and that is why I have started to be quiet and not spend as much as I used to. The problem though is that yesterday and today I got out of this shell and wanted to make like 300 dollars with just 50 in gambling, I tried my luck in Gates of Olympus Super Scatter and I will be honest, I got to near 200 dollars with just buying the super bonus, 6.5 dollars equal to my playing balance of IDR. I got greedy and wanted that 300 dollars because I need to pay for something precious to me, I ended up not only not being able to get the precious thing but also to lose money I had put apart exactly for that. As always nothing new from Pragmatic scam provider.

[Agbamoni]

I just wished they can take a break so that they will not lose everything they laboured for, that's when budgeting becomings important.

Budgeting is more important than having to cover the expenses in gambling. The same reason is why countries makes budget before making expenses, because no matter how tough we think we can be, we are limited to making mistakes, and mistakes in gambling can lead to deep circumstance. I will always advice on the importance of prevention, every gambler must take it as a responsibility to place budget as a top priority unless they are filthy rich, whereby if they lose any amount it wont be a big deal.

[Fredomago]

I just wished they can take a break so that they will not lose everything they laboured for, that's when budgeting becomings important.

Budgeting is more important than having to cover the expenses in gambling. The same reason is why countries makes budget before making expenses, because no matter how tough we think we can be, we are limited to making mistakes, and mistakes in gambling can lead to deep circumstance. I will always advice on the importance of prevention, every gambler must take it as a responsibility to place budget as a top priority unless they are filthy rich, whereby if they lose any amount it wont be a big deal.

Indeed, we are prone due to our emotions, it's better to allocate your money and make sure that you'll practice whatever discipline you have inside you, very important to make sure that everything is working according to your plan as making a single mistake inside gambling will have a big impact to your finances.

It's your decision making and how well you understand that risk, setting up your limitation and making sure that you are capable to call that hard stop whenever needed is a big factor while you are still in session.

[TheUltraElite]

Budgeting is more important than having to cover the expenses in gambling. The same reason is why countries makes budget before making expenses, because no matter how tough we think we can be, we are limited to making mistakes, and mistakes in gambling can lead to deep circumstance. I will always advice on the importance of prevention, every gambler must take it as a responsibility to place budget as a top priority unless they are filthy rich, whereby if they lose any amount it wont be a big deal.

For a gambler who is spending money everyday, does budgeting even sound like anything? I mean they are literally wasting money every day in that sense. To them budgeting is a complete no-no, it would rather stop them from being a gambler, which they would probably not want.

Here comes the question - if a gamblers starts budgeting, do they remain a gambler or become a diligent person capable of stopping their gambling habits? I think it will be the latter.

Mistakes in gambling is a wrong term to use, there are no mistakes in luck based games - just bad luck and to prevent them, budgeting will only reduce the total expense but not completely eradicate the future losses.

[Agbamoni]

Edited Out

For a gambler who is spending money everyday, does budgeting even sound like anything? I mean they are literally wasting money every day in that sense. To them budgeting is a complete no-no, it would rather stop them from being a gambler, which they would probably not want.

Here comes the question - if a gamblers starts budgeting, do they remain a gambler or become a diligent person capable of stopping their gambling habits? I think it will be the latter.

Mistakes in gambling is a wrong term to use, there are no mistakes in luck based games - just bad luck and to prevent them, budgeting will only reduce the total expense but not completely eradicate the future losses.

Budgeting in gambling should be done monthly, and if need to exceed that amount, it has to be money gotten from outside job or tips from work. Why it is essential to make monthly budget for gambling is because you as an individual has other plan in life, not knowing how to allocate the discretionary income properly can lead to waste of money.

Back to your question - if a gambler priorities budgeting he is still a gambler but this time, a responsible gambler to be specific. As a gambler you are trying to prevent bad luck right? And if so, budgeting can reduce risk in gambling and reducing risk means preventing bad luck.

[Dunamisx]

If you want to practice proper gambling budgeting and see that it works effectively, you first have to start from personal budgeting and then you can easily implement it in your gambling.

A person that cannot afford to manage the financial resource he had, plan what is good for himself and main a steady budget as according to plan, such person should not be expected to perform well when it comes to gambling budget and organizing for effective plan as well, because he already failed in many ways to plan what's good and best for himself, the way we have been used to living our personal lives also will be a reflection of what we take into gambling.

[Nheer]

Fact is that if you've never paid attention to how much you spend on your minor wants, chances are high that you can never make proper budgeting for your gambling.

Sometimes, the amount we spend on things that don't add anything to us is always more than the amount we spend on gambling and for gambling expenses, it's even better because there's a chance that you might win and get a return from what you've put into it but for the regular expenses, once it's gone it's gone for good and it's easy to spend so much on small items without even knowing that a lot is already going into such as long as you're not taking record of such expenses.

What's your take on this?

That's right if we actually pay attention to the amount of money we spend on minor wants we would be surprised how much it would be but then these wants are too many that sometimes they come unexpectedly making it difficult to keep track of them. If you don't have a budget or plan you will be spending more than you should on certain things neglecting other things.
With proper planning you will be able to allocate some amount to gambling while still have spare change for some minor needs but you will have to base everything on percentage and above all you need to be disciplined to keep this act going for a long time.

[shasan]

No matter how much a gambler spends in gambling it should be what the gambler can afford to lose. It is when a gambler is spending more than what they can afford to lose that's when it becomes an issues There is no gambler that goes into gambling with the mindset of losing no matter how small the amount they are using to gamble is . however they should always understand that  in gambling is either you win or you lose.

You are right and I agree with you that there should not be any budget limit/idea and that can only be those amounts for both rich/poor people which they can afford if they lose. Winning can't be expected, though there might be more winning than expected.

[Lanatsa]

Fact is that if you've never paid attention to how much you spend on your minor wants, chances are high that you can never make proper budgeting for your gambling.

Sometimes, the amount we spend on things that don't add anything to us is always more than the amount we spend on gambling and for gambling expenses, it's even better because there's a chance that you might win and get a return from what you've put into it but for the regular expenses, once it's gone it's gone for good and it's easy to spend so much on small items without even knowing that a lot is already going into such as long as you're not taking record of such expenses.

If you want to practice proper gambling budgeting and see that it works effectively, you first have to start from personal budgeting and then you can easily implement it in your gambling.

What's your take on this?

For budgeting then it would be always that on the amount on which is that to be an "EXTRA", there should be no fixed nor obligations for you to make up some budgeting or allocation with your gambling funds.
I have been sticking into this principle on which means that i dont face up any issues when it comes to budgeting. I do only make out some random spendings on which just like been said that it would be that totally depending into the budget or extra money you do have on which it will be that totally depending on you. You cant just that spending up or having that budgeting specially if you do have a family on which those budgets would be rather be worth if you would be gonna spending it instead on other things rather than on gambling. If you are that wanting to play and doesnt have any problems when it comes to income or source then it would be just that fine. It would be always important that you should be mindful when it comes to spending because this is where gamblers do usually messed up because they cant be able control their spending then this is where shit things do happen.

Personal budgets would be relevant until it would become a gambling budget but actually everything would be just that the same. The idea on here is that you should be that making yourself that responsible at least into the things that you would gonna deal with specially with gambling on which we know that this is highly devastative if you cant be able to have such control when it comes to finances. Its important that you should be wary about into the potential risks that it do lies ahead. If you do see yourself having that good control then there would be no issues when it comes into this aspect. There are just that those times that you do become that too impulsive when it comes gambling.

[Die_empty]

After all types of spending 1% of the rest might be too low for majority of the people. If anyone can warn 1000$ in a month and spend 500$ as monthly expenses then 1% will be only 5$. Don't you think it is too low budgeting for gambling. I think anyone can bet any amount which the person can afford if loses.

If someone is earning $1000 and the person is using $500 on the monthly expenses, that means the person will spend $10 monthly on gambling. The 1% is not calculated from the remaining amount but from the whole amount that the person earned for that period of time. But if the person does not have any savings left or struggling, the person does not need to gamble at all.

Yes, people should gamble with the amount of money that they can afford to lose, but my post is about the recommended amount that a gambler should spend on gambling which will not at all make gambling have any negative effects on the person.

Allocating 1% of total income to gambling is not a bad decision. But many gamblers will see that amount as too small because it will be difficult to win big with $10, except if you are lucky enough to win a jackpot.

However, no fixed amount or percentage should be allocated to gambling. The best option is to gamble with an amount you can afford to lose. This is because people have different costs and standards of living.

[shasan]

Allocating 1% of total income to gambling is not a bad decision. But many gamblers will see that amount as too small because it will be difficult to win big with $10, except if you are lucky enough to win a jackpot.

However, no fixed amount or percentage should be allocated to gambling. The best option is to gamble with an amount you can afford to lose. This is because people have different costs and standards of living.

1% is almost nothing, not only for the rich people but also for the middle-class people, as well as for the lower-class people. Those who are usually gambling will never gamble with 1% of their earnings. People gambling without a budget or a budget with an amount that they can afford if they lose, except addicted gamblers. Addicted gamblers can't have any sense of what will happen if the person loses after reinvesting/ which they can't afford.

[tread93]

I absolutely disagree with this.

If you are able to have savings after all living necessities, you can be using not more than 1% of your income on gambling. No need to think about the budgeting like it is something special.

I spend more on things that add up to me than things that do not add up.

Id have to agree with that statement for sure. Like id rather buy more shitcoin over gambling any day. Now buying shitcoins is a gamble in and of itself so maybe its just a less shittier form of gambling? Loll.  Having a whole budget for gambling though is serious. I hope your returns have bode you well OP

[Fredomago]

Allocating 1% of total income to gambling is not a bad decision. But many gamblers will see that amount as too small because it will be difficult to win big with $10, except if you are lucky enough to win a jackpot.

However, no fixed amount or percentage should be allocated to gambling. The best option is to gamble with an amount you can afford to lose. This is because people have different costs and standards of living.

1% is almost nothing, not only for the rich people but also for the middle-class people, as well as for the lower-class people. Those who are usually gambling will never gamble with 1% of their earnings. People gambling without a budget or a budget with an amount that they can afford if they lose, except addicted gamblers. Addicted gamblers can't have any sense of what will happen if the person loses after reinvesting/ which they can't afford.

Indeed, those who already addicted and the engagement to gambling is too deep the chance that they don't have any set limitations, as they wanted to pursue their gambling, no such amount that they allocated or set budget but just to proceed and keep on playing.

But to those who understand the risk, it's very important to them not to exceed from what they allocated as budget, some may aiming to have some fun, while some also intend to win but with good practice to avoid losing a lot .

[Eternad]

I absolutely disagree with this.

If you are able to have savings after all living necessities, you can be using not more than 1% of your income on gambling. No need to think about the budgeting like it is something special.

I spend more on things that add up to me than things that do not add up.

Id have to agree with that statement for sure. Like id rather buy more shitcoin over gambling any day. Now buying shitcoins is a gamble in and of itself so maybe its just a less shittier form of gambling? Loll.  Having a whole budget for gambling though is serious. I hope your returns have bode you well OP

That's the point. Some people have a habit to include gambling in their daily life. While there are others who will prefer to put it in something they see valuable but still worthless in the end. I myself is guilty of spending cosmetics in video games. It's a waste of money for some but the excitement I get is comparable to the other things that I do.

As long as it doesn't concern our financials and doesn't interfere with our life then we should let those people do what they want with their money.

[Y3shot]

Being a person who doesn't joke with budgeting in real life doesn't mean this kind of lifestyle will affect one’s gambling habits. If you don't have an understanding of gambling, you can find yourself gambling excessively, especially when you think it can generate a good amount of money for you. Having a budget in gambling is about understanding; it's not just because you already have a budgeting lifestyle that helps you manage your money.

[Sonia_123]

Fact is that if you've never paid attention to how much you spend on your minor wants, chances are high that you can never make proper budgeting for your gambling.

Sometimes, the amount we spend on things that don't add anything to us is always more than the amount we spend on gambling and for gambling expenses, it's even better because there's a chance that you might win and get a return from what you've put into it but for the regular expenses, once it's gone it's gone for good and it's easy to spend so much on small items without even knowing that a lot is already going into such as long as you're not taking record of such expenses.

If you want to practice proper gambling budgeting and see that it works effectively, you first have to start from personal budgeting and then you can easily implement it in your gambling.

What's your take on this?

A gambler that fails to have budget and then gambling budget has failed to be a successful gambler and will end up using all his money for gambling.

Having budget helps you minimizes losses and help you manage your finance since gambling wins are not guaranteed. Having a personal budget for your personal expenses makes it more easier for you to set out a gambling budget, because it will give you a proper balance of your left over which from there you will be able to know how much will be allocated to gambling weekly or monthly and if exhausted before time, you will have to wait for the next income to take place to avoid encroaching into your personal budget that will end up affecting you.

Budgeting sets a standard and gives limitations to careless spendings.

[Distinctin]

Just stick to this, if you spend more than 2% of your income, your gambling journey will be at mess, you’ll get broke and ruin your finances in the end. So if you want to stay on budget, and stick with your betting limits, then never spend above the percentage you set for gambling, otherwise you aren’t gambling for profits, but you simply gamble to experience losses, and that’s a very wrong mindset in gambling, that would lead to future losses and regrets.

While gambling can make yourself profitable and get rich in the long run, but it can also make you the poorest of the poor if you gamble the wrong and delusional way.