What percentage of your income do you allocate for gambling?

[SmashMouth]

This year I budgeted alot more than in previous years. Mainly because I thought that sports gambling was something Iwas good at. This is the worst year I've had betting.
I allocated 20k on January 1, for 2002 betting. Nearly 1/4 of my primary income. I know that is a ton, but I also have other income sources, and that 20 k was part of a settlement.

Unless Things change during Football and the end of Baseball, I will probably cut that amount in half for next year.

 

[yyz]

0%

it's easier to deal with the losses.

 

[Patternseeker]

imagine that. . .

yyz is starting to make sense to me now.

:shrug:

 

[yyz]

I'm glad you finally came around, seeker.

 

[Nick Douglas]

I think generally a better idea is to have a continuous bankroll rather than allocating a certain percentage each year. Hopefully you are making money each year so your bankroll will continue to be refreshed.

As for a percentage of what you make, I guess it varies from person to person. Depends on what you can comfortably afford to risk. I think you have to go in thinking that if you lose every cent of your bankroll you will still be OK financially. I fully admit that I have made the mistake in the past of not doing exactly that.

GL.

 

[SmashMouth]

Thanks for the insight Nick.

 

[ZMAN]

none. just use previous years winnings.

 

[SmashMouth]

Zman where is sicklerville?

 

[ZMAN]

sm, sicklerville is in south jersey. located in camden county, on the gloucester county border. 40 miles from atlantic city, 17 miles from center city phila.