Sports betting is an exciting and highly entertaining activity, that can generate some profit when done right, in order to successfully manage your gambling activities there are numerous recommendations regarding betting strategies and bankroll management. While the popularity of sports betting grows there is a shared responsibility among bookies bettors.
To help educate the public and gaming operators about responsible gaming, each year there are activities driven by the American Gaming Association where the casino industry and the public participate to increase awareness of disordered gambling.
Did you know there are four keys to gambling responsibly? Responsible gamblers understand that the house holds greater odds of winning than the player.
It’s true. The house generally wins, and the games are set up that way. Knowing that the odds are not in your favor helps you stick to your pre-set limits of time and money when gambling.
Responsible gaming is conducted in a social setting, with family, friends or colleagues. It is the best way to keep you accountable to your limits!
Responsible gaming is done for limited amounts of time, both in frequency and duration. If you set a limit of how much time and money you’re going to spend while you gamble before you start, it is easier to stick with that plan.
Responsible gaming has both predetermined and acceptable limits for losses.
Any gambling activity should be viewed as entertainment, so make sure to set a loss limit that is appropriate for your own budget.
While these are the four keys to gambling responsibly, there are a few more tips in setting your own guidelines. Take a look:
The decision to gamble is a personal choice: No one should feel pressure to gamble, or feel that he/she must gamble to be accepted nor it should be perceived as necessary for having fun and being with friends.
What constitutes an acceptable loss needs to be established before starting to gamble: Any money spent on gambling should be considered the cost of entertainment; people should only gamble with the money they can afford to lose.
Borrowing money to gamble should be avoided and discouraged.
There are times when people shouldn’t gamble: for example under the legal gambling age; when it interferes with work or family responsibilities; when in recovery for addictive disorders; when the form of gambling is illegal; or when trying to make up for prior gambling losses, which is a practice known as “chasing” losses.
There are certain high-risk situations during which gambling should be avoided: When angry or feeling lonely, depressed or under stress; to solve personal or family problems; or to impress others.
Excessive use of alcohol when gambling can be risky: Irresponsible alcohol use can affect a person’s judgment and interfere with the ability to control gambling and adhere to limits.
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