As per this meta.SO post, the flag count is calculated as:
- default 10 per day
- one bonus flag per 2000 reputation
- one bonus flag per 20 "flag weight" above the default
- maximum 100
"Flag weight", although it has been removed from the UI, still exists in the backend. It's calculated as such:
- start at 100
- +10 for a flagged post (+5 for a comment) that we did something about (or was basically valid)
- -10 for a flagged post (-5 for a comment) that we suppressed as invalid
- min 0, max 750 (but non-linear above 500)
- IMPORTANT CHANGE - if you flag so consistently badly that you reach 0 weight, flags will be suppressed
Therefore, if your flag weight has risen way beyond 100, you already get many new flags every day. :)