Gambling is a constant cycle of feast and famine. On top of the world after one session, sleeping under the bridge after another, haha

I use gambling funds from my poker bankroll (funded by poker), which is separate from my life roll (funded by my career). Was lucky to build it with a few big tourney hits but mostly from cash games.

Funding gambling from our salaries seems like it would eventually catch up to you. Once you downswing, at what point do you stop.

And the more life stuck you are, the worst gambler you become (increasing bet sizes, volume, etc).

I’ve put in so much work developing my poker skills that fortunately the bankroll continues to grow and I can take out my gambling roll from there and have it be sustainable without affecting my personal life. Poker is tougher nowadays but good games can be found.

Using a game of skill to fund my games of chance has helped me stay sane during heavy downswings.

In that context, I’m willing to go up to 80% of my bankroll for gambling. I’ll justify by comparing a gambling session loss to a few poker session wins or vice versa.

It helps that I’ve never spent gambling wins on anything of value. I view the fund as a game I’m trying to build. Every year I hope it grows so I can gamble an increased amount the following year. I’ve had years where I had to lower my base bet size adjusting to the fund’s size. But so far so good.

 

I never look at it as # of paychecks or a % of net worth etc.
I think, if one has a LOC, that the LOC should represent whatever amount one uses to either have some easy recreation or go full on degen.
Playing to your LOC can get one's pulse going any way you cut it. And to get into TTOs then that's for full on rush junkies IMHO.
Otherwise it's kind of just money spent on a vacation, be it San Diego or Paris.

 

Whatever I get from Coinstar.

 

The percentage is also based on your actual net worth. Mark Zuckerberg, for example, could lose 80% of his ~$50 billion fortune in Vegas and it would never come close to affecting him. To someone with $10K in the bank, losing 80% would likely be devastating. Half the country has a net worth of $0 or less (including some relatively high income people - people that are upside down in mortgages, or those that lease their Mercedes and their McMansion for example), so obviously not everyone can use a net worth test. In that case, they probably shouldn't be gambling at all, but if they do, it should only be a couple of percent of their overall income - certainly no more than 10%.

It also depends on how your money is replenished. A trust fund kid that loses every dime he has in the bank on the 31st, knowing that he has another $200K coming in on the 1st of every month for the rest of his life, is probably going to be OK even though he lost 100% of his available funds...he can wait a few hours and be just fine.

So it depends on a variety of factors.

 

This entire conversation is idiotic.

 

We LOVE you Breeze, please never leave again!!!!!

 

Why is this conversation idiotic?

 

Because you are not living in the real world.

 

You must know that is a vague and weak answer. Can you try again?

 

No, I got in trouble before for being overly opinionated on a similar topic. Look at me as the con next to the list of pros.