What % of gambling losses is ok?

Knightrofins · Dec 12, 2016

I was just looking how much i am down this year in sports gambling only. I see that i'm down between 2%-3% of my annual income and i'm cool with it as it didnt put a huge dent into anything (sux i lost).

My question is, what is the highest percentage of gambling income that you can "afford to lose"?

5%?
10%?
15%?
20%?

I'm sure we factor in gambling income/losses when it comes time to paying bills to live and for luxuries.

RunMaker · Dec 12, 2016

%'s are relative and basically mean nothing.

You make $100k a year.... get less than 6k after tax a month.... lose 180/month gambling... are you really bothered?

You make 50/yr... lose around 90/month?

I would imagine your gambling losses are more than just 2-3%... but if they are, good job.

Knightrofins · Dec 12, 2016

I figured "annual income" as the income that you'll show on your tax return. Didnt factor taxes taken out of check. I also didnt factor in pools or fantasy contests. Just flat out sports betting whether its offshore or with a local. Also nothing on paper either. Actual monies collected or paid out.

RunMaker · Dec 12, 2016

Doesn't sound like losing is a problem for you to be honest. Sounds like you're okay.

Knightrofins · Dec 12, 2016

I'm fine. Hate to lose (dont we all) but not crying in my pillow over the losses. It was just a general question to the forum. Is 5% bad? 10% bad, etc? Just curious to know everyone's opinion on what percentage is a high percentage

clowncar · Dec 12, 2016

If you are sacrificing other entertainment for the gambling entertainment you need to factor that in. In other words, how much did you save not doing other things (movies, concerts, travel, comedy shows, eating out more, etc)

What % of gambling losses is ok?

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