How to be a low risk gambler

[maydna]

I can adjust to the number of times I gamble because gambling doesn't make me return many times. Gambling is just a secondary activity for me and I don't gamble too often. I also use small money and limit my money because I have many needs to fill. So I prefer to use the money to fill my needs rather than just to gamble.

Yes, avoiding regular gambling will help you distract your mind from gambling. But you must have many activities that you should do daily so you don't have free time to think about gambling. The problem is that we may difficult to control our minds from gambling and that can make us return to gambling.

[famososMuertos]

::///::::NO

This is the most horrible recommendation out there. I've never seen advice that, despite having such seemingly good intentions, ultimately makes everything worse.

Your message promotes the kind of philosophy that many people are pushing like a religion: "use money you can afford to lose," and so on (I can't even remember the exact wording, as I never use it).

OP, no single recommendation works perfectly. The most efficient rule I follow is having a bankroll that is 100* times your maximum preferred bet. On the other hand, I'm a high-volume player, making maybe 500 bets a month—and I might be underestimating that.

The best advice I can give anyone is simple: don't do what the OP says.

Fundamentally, the money you allocate for casino gambling should be 0% of your household income. You must be able to generate your gambling income from other sources. If you can't, don't gamble.

^{*The higher this value is, the better. Some recommend that you lower it as your skills improve. I started at 700x.}

[BigBos]

I don't know if there are gamblers here that really compute their monthly income and then get that certain percentage allotted to gambling? Isn't it complicated, I mean even for those who are playing big money and not in the category of low risk gambler?

In any case, it could be on case to case basis, maybe this month you won big and so that is extra budget for you. But when you lost, then perhaps it's better to stop for a while and not gamble at all.

In my opinion, this is only done by people who are detailed in many things, so people like this might do it, but there are certainly many who don't pay attention to this, even with the amount of profit, I think many don't think about it or note it down. Gambling is something that has clear risks and cannot be avoided by anyone, including players who are said to be experts or VIPs.

with low risk, yes, it depends more on each person who does it, in my opinion. If they deposit a low amount of money and are ready to lose then the risk is low, whereas for people who deposit large amounts of money the risk is also large.

[Dunamisx]

This is more of a personal decision, being a low risk gambler shows that you will not gamble because you wanted to earn from it, which is the first requirement needed, so that everything you will be doing will fall under the perspective of being capable of accepting the outcome from it, as what we gives in is what we takes from gambling, therefore staking must be done accordingly, we should not be too aggressive or desperate to gamble or win, instead, we should afford only on what we can lose.

[Shinpako09]

In short, have some discipline. If you have discipline, you can control yourself no matter how your session turns out. Don’t spend too much, so you don’t aim too high. That 1% rule, those who follow it are usually the ones who only gamble occasionally. For regular gamblers, that’s boring and probably not satisfying. Especially for high rollers or even mid level players, nah, that amount doesn’t even reach what they can afford to lose. Set aside money for bills, needs, and savings, then allocate only what you can afford to lose. Whatever’s left should go back to savings again.

[Mahanton]

I don't know if there are gamblers here that really compute their monthly income and then get that certain percentage allotted to gambling? Isn't it complicated, I mean even for those who are playing big money and not in the category of low risk gambler?

In any case, it could be on case to case basis, maybe this month you won big and so that is extra budget for you. But when you lost, then perhaps it's better to stop for a while and not gamble at all.

In my opinion, this is only done by people who are detailed in many things, so people like this might do it, but there are certainly many who don't pay attention to this, even with the amount of profit, I think many don't think about it or note it down. Gambling is something that has clear risks and cannot be avoided by anyone, including players who are said to be experts or VIPs.

with low risk, yes, it depends more on each person who does it, in my opinion. If they deposit a low amount of money and are ready to lose then the risk is low, whereas for people who deposit large amounts of money the risk is also large.

Very few gamblers actually take the time to calculate their income and allocate a fixed percentage for gambling most people just play impulsively spending whatever feels right at the moment without thinking about long term impact those who treat it like a form of entertainment with clear limits are the ones who survive the longest because they know exactly how much they can afford to lose before things get out of hand. You’re right that it depends a lot on personality some people are naturally disciplined and detail oriented they keep records track wins and losses and follow a budget but the majority don’t because gambling often runs on emotion and not logic when luck is involved people tend to lose focus on numbers.

Low risk gambling only stays low if the person controls the stake once someone starts increasing the amount because of a previous win or trying to recover losses that’s when it turns into high risk no matter how rich they are it’s all about mindset not amount. Having a rule like setting aside a small fixed percentage every month can actually save people from deeper losses it keeps gambling in its place as entertainment not as a financial strategy when you lose you stop when you win you just take it as a bonus but the moment you stop tracking or budgeting it becomes chaos and that’s where problems begin.

[mindrust]

You know what they say. Play low risk games, win small size prizes. If you never buy a lottery ticket, you can never win it. If you never play, you’ll never lose (or win). Sometimes the crazy happens and your $10 bucks coupon wins $100k or more but that’s very very rare. Instead of thinking winning and losing we should think about having fun. Do you count it on a spreadsheet every time you purchase a movie ticket? Then why would you count your losses when you make bets? You had your fun, either you won or lost don’t matter.

[AprilioMP]

So how do you play as a low risk gambler?

Or you just can't adjust with the numbers of times you gamble?

These three steps are good for pressing something that can save us from various risks. But I have my own adjustments to these three steps.

Regarding percentages, 1% is too small for me for gambling because the gambling games I play only focus on football betting.
I use 4% to 5% for gambling.
Then regarding the 4 days of gambling in one month, I did this type of slot game even though I didn't focus there.
This means I gamble twice a week on football betting. 4 times a month it applies to this type of slot game.

[fruktik]

No one should remind a low income earner that he should plan well in other to be able to manage his financial resources effectively, how is it possible for someone to spend more than he earns, or is also likely that from what we earn, gambling is taking higher percentage and we make no adequate preparation for how to engage on other daily challenges and needs financially, we can't afford not to plan all these well.

Yes, many people in the modern world spend much more than they earn. Take loans as an example. In my country, it's become a real pandemic. The population is completely over-indebted. The amount of debt owed to banks grows every month, and the period of late payments is constantly increasing. These people definitely shouldn't gamble, as they clearly don't have a clear understanding of financial planning.

[Wind_FURY]

Following Kelly Criterion money management method is more effective if you ask me when compared to this restrictive style of gambling op. Most gamblers aren't strong enough to resist their gambling addictions which is why it's quite difficult for them to follow your system.

Can you post an ELI-5 explanation of the Kelly Criterion? And please post simple examples on how to implement it if an individual is a Black Jack or Craps player.

Plus it would truly help plebs like me if you also post how you personally use it.

I propose sticking to parlays instead where you can gamble with miniscule amounts regularly in order to try and win big someday.

I believe there's a threshold in how many bets combined in one accumulator/parlay to make it more profitable than betting merely on a singular bet, no?

[Ishicryptic]

The guides in the OP are effective ways to be low risk gamblers but they are easier said than done, it will take serious self control for many gamblers to adapt to them. Gambling can be very addictive and if you are not very disciplined you won't know when you begin to go against what you have planned before starting to play. The simple rule to responsible gambling is to always try as much as possible to use amount that you can afford to loose, if you can have the control to do it always it means that you have mastered low risk gambling.

[LeyMonte]

Yes, many people in the modern world spend much more than they earn. Take loans as an example. In my country, it's become a real pandemic. The population is completely over-indebted. The amount of debt owed to banks grows every month, and the period of late payments is constantly increasing. These people definitely shouldn't gamble, as they clearly don't have a clear understanding of financial planning.

Gambling with debt is bad for a family. Where there is no guarantee of winning or losing in a casino game, betting with debt is not a normal brain activity. For this to happen in your country, your country's legal system needs to be improved and casino games cannot be taken as a source of income. If you bet a small amount and enjoy gambling for fun, then it is right path. If the way you are saying continues, then the situation in your country will continue to deteriorate day by day due to casinos.

[fruktik]

Gambling with debt is bad for a family. Where there is no guarantee of winning or losing in a casino game, betting with debt is not a normal brain activity. For this to happen in your country, your country's legal system needs to be improved and casino games cannot be taken as a source of income. If you bet a small amount and enjoy gambling for fun, then it is right path. If the way you are saying continues, then the situation in your country will continue to deteriorate day by day due to casinos.

Education in my country has become incredibly poor. It became obsolete decades ago. And even talking about financial literacy is a real eye-opener. People don't understand even the most basic things. For example, what are inflation risks? It's a mystery to them. They don't even try to figure it out. They think it's the domain of those at the top of government and that it doesn't concern them. They're sorely mistaken. There's nothing that can be done about it. It's not in the interests of those in power to have citizens understand such issues. The country is sliding back into some kind of Middle Ages.

[Yablee0]

So how do you play as a low risk gambler?
Or you just can't adjust with the numbers of times you gamble?

This whole stuff is just been easy when saying it verbally but putting it in practice is a whole challenge to many folks out there, it only takes those with strick discipline to attain this, because what we are saying here is gambling at least 4 times in a month and as we all know many people gamble almost every seconds so you see it quite tough only the disciplined minded folks can achieve that.

Secondly, in my own case I gamble only at the weekend when am free and it's a must that I will never go beyond my limits, once the budget of that day is exhausted that's all I can't go above my limit.

[AmaGold70]

Anyone that want to be a low risk gambler must be ready to gamble with what they can afford so in case if their bets do not end up with a win. Gambling should be based on how much risk we are ready to take in order not to become a loser if the bet ends in loses. To be a low risk gambler, we must be ready to gamble less with what will not affects our mental health if the bet expectations do not come as planned.

That is the easiest way to maintain a low risk gambler because you most stick with the amount you can easily afford to lose, not the amount that would give you problem after losses because this is where most gamblers get confuse when gambling. However, in the beginning they would still maintain their limit but immediately they get a win they would begin to increase their bet forgetting that gambling is not an easy place to make money.

[Crypt0Gore]

The guides in the OP are effective ways to be low risk gamblers but they are easier said than done, it will take serious self control for many gamblers to adapt to them. Gambling can be very addictive and if you are not very disciplined you won't know when you begin to go against what you have planned before starting to play. The simple rule to responsible gambling is to always try as much as possible to use amount that you can afford to loose, if you can have the control to do it always it means that you have mastered low risk gambling.

Exactly what's on my mind, that table shows too low amount dedicated for gambling, I don't even earn $10,000 every year so I should be using $1 per month for gambling? Because I use more and I still believe that I am in the range of risking what I can afford to lose.

I make a little over $150 per month and I still risk $5-10 on gambling every month, this is the out most amount that I can withstand to lose and that's it, any amount lower than this is going to be hard because timing also is a thing here.

Having 1000 spins is better than having 100 spins, and we all know which one will come to an end faster than the other, just make sure you are risking what you can afford to lose.

this is why own way and no one should copy me.

[dwyane36]

So how do you play as a low risk gambler?

Or you just can't adjust with the numbers of times you gamble?

These three steps are good for pressing something that can save us from various risks. But I have my own adjustments to these three steps.

Regarding percentages, 1% is too small for me for gambling because the gambling games I play only focus on football betting.
I use 4% to 5% for gambling.
Then regarding the 4 days of gambling in one month, I did this type of slot game even though I didn't focus there.
This means I gamble twice a week on football betting. 4 times a month it applies to this type of slot game.

In general, every gambler should follow proper risk management, meaning they should keep their bets as small as possible relative to their total bankroll. However, it seems that many gamblers neglect this, finding such an approach to gambling boring.

[Inwestour]

Gamble no more than 4 days per month: I don't know how easy this will be for many gamblers because even around me, gamblers don't just gamble 4 times in a month. Gambling 4 times means 1 per week and I think that is reasonable. It will be easier for those who don't have Android phones   or those who are really busy with office work and barely have time, just on weekends. But this is reasonable and will help to reduce addiction if we have the emotional control. My suggestion is, to gamble four times in a month, you have to focus on few games or sports, maybe just focus of football and particularly with few leagues.

Avoid regularly gambling at more than 2 types of games: Yes like I suggested above, if you are playing on many games you will have that push to always gamble but the fewer the games the lesser times you gamble.

So how do you play as a low risk gambler?

Or you just can't adjust with the numbers of times you gamble?

Limiting the number of days is more difficult because some days might feature the games you're looking forward to. Especially since weekends have two busy days, and players often play two days, so twice a week is a normal rhythm. Regarding the percentage of your income, it also depends on how much you earn, and the most important thing is to stick to a fixed bet and not exceed your planned amount. Sticking to a fixed bet will minimize your gambling risks the most.

[Fiasem20]

All what you've listed concerning low risk management regarding to gambling are valid in my own perspective.Many gamblers don't have self control towards their gambling habit,how would an individual spend 7% of he's monthly income on gambling with the mindset of making more money in return? that's a wrong perspective,at least 1% or 2% of your monthly income can be used for gambling but anything other than that can lead to addiction.The idea of not gambling more than 4 times a month would also be helpful to a gambler that is so stalked to gambling, personally I gamble for fun so I catch fun on my leisure period probably on weekends.

[AprilioMP]

These three steps are good for pressing something that can save us from various risks. But I have my own adjustments to these three steps.

Regarding percentages, 1% is too small for me for gambling because the gambling games I play only focus on football betting.
I use 4% to 5% for gambling.
Then regarding the 4 days of gambling in one month, I did this type of slot game even though I didn't focus there.
This means I gamble twice a week on football betting. 4 times a month it applies to this type of slot game.

In general, every gambler should follow proper risk management, meaning they should keep their bets as small as possible relative to their total bankroll. However, it seems that many gamblers neglect this, finding such an approach to gambling boring.

If management in gambling can be managed so well, then other matters in carrying out activities and routines will also be good.

I set a percentage limit as I mentioned because I bet on sportsbooks, especially football, every Saturday and Sunday only on a few big leagues. I did that to complete my excitement in watching.
Limiting days a month for slots is necessary and I agree with the OP.
If many gamblers ignore all of that and find this approach boring, how about we say it's at your own risk.