Gambling is a potentially risky type of entertainment, with financial ruin and addiction as the two main dangers. However, by following a few simple rules when playing, players can reduce the risks.
One of our goals at bettors.co.za is to inform our players about gambling. This means that you should learn the skills necessary to prevent addictions and maintain gaming as a pastime rather than a vice. As a result, the following three pieces of advice are provided for gamblers:
- Stay on top of your finances
- Stay in control of your time.
- Participate in gambling purely for amusement
First advice – Stay on top of Your Finances
Staying on top of your cash flow is a good approach to avoid problem gambling and lessen the risk of your finances hurting as a result of gaming. There are numerous ways to use money management to restrict gambling, as will be covered below.
Set up a budget
Think about how much you’ll need to put aside initially for your daily needs (food, insurance, rent, education, etc.). When it comes to gambling and sports betting, decide what level of risk and loss you can tolerate. Set a limit for yourself on a daily, weekly, and monthly basis.
Decide how much you are willing to risk, spend, or lose on a single wager. To help you keep within your restrictions, it is advised that you use the limit functionality offered by the majority of operators. As a result, it will be easier for you to keep to your plan.
Steer clear of using credit cards when gaming
If you play with borrowed money, your game will be riskier. Additionally, your possible losses could hurt not just you but also your loved ones.
Collect your prize money
If you score a big win, it is advised that you cash out some money. After generating a sizable profit, refrain from playing more because this could enhance your chance of gambling injury. Avoid placing large wagers because doing so could make you want to take bigger risks.
Keep bank withdrawals to a minimum
Ask your bank to restrict the amount you can withdraw.
Stick to your strategy!
Above all, make sure to carry out your plan! Remember that if you’ve made the decision to keep to a budget or establish restrictions for each wager, you should do so. Review your gambling habits on a regular basis: Are you staying under the set spending limit? Are you abiding by the time limit you set? It is always a good idea to seek advice to find out what steps can be made to prevent the development of unsustainable gambling behaviour if you discover that you are periodically unable to adhere to your limitations.
Second advice – Stay in Control of Your Time
Players should determine their budget and time constraints before engaging in any gambling activities.
Why should you keep time records?
Most sports gamblers are also avid sports enthusiasts who like following the championship. The adrenaline released while watching a sporting event, such as a football game, can change our regular alertness.
As a result, it may also be challenging to maintain your sense of time, particularly if you are continually searching for the best odds or placing wagers during hectic live betting.
A player in a casino or a game of poker will exhibit the same behaviour.
Gambling too much can make you overlook other aspects of your life (exercise, tasks related to your job, education…). Poor time management can also have an adverse effect on relationships.
What is your system for managing your time?
Stop clocks and time limits are only two of the tools that many bookmakers and operators use to assist players keep track of how much time they spend betting. If your favourite operator has one, using it can be helpful. They help you pick how much time you want to spend betting in advance and make it simple to track your success.
If your favourite bookmaker does not offer this function, you can still build up your own straightforward system by setting a timer or using the stopwatch on your phone to keep track of the passing of time as you place bets.
Estimating the time you want to spend gambling and comparing it to the actual time you spent is another helpful strategy. You can record the time you spend over a few weeks in order to maintain track of the time. Don’t forget to factor in the time spent thinking through and investigating potential wagers. You may impose time restrictions on gambling if you discover that you considerably overestimate how much time you spend doing it.
Where does it stop?
Because the amount of time varies so widely amongst players, it is challenging to determine how much time is excessive. Choose a budget-friendly quantity and consult a buddy about their recommendation.
You could define the limitations with the help of the Canadian Centre on Substance Use and Addiction’s Lower-Risk Gambling Guidelines. The Guidelines are the outcome of a five-year inquiry that incorporated game data, information from player surveys, and professional perspectives. In order to reduce your risk of developing a gambling addiction, it is advised that you limit your gambling to no more than four days each month.
While it doesn’t necessarily indicate you have a problem if you wager more than the recommended amount, it does raise your risk exposure.
Third advice – Participate purely for amusement
If you feel in control of the situation, gambling, like any other type of entertainment, may be enjoyable in moderation.
When you lose control of your game and find yourself trying to recover lost money, it may be really distressing.
Some people’s addiction to gambling can make it difficult for them to focus on other crucial tasks. You should be aware of the warning signs that this activity isn’t only for entertainment, such as mental tension, anxiety, depression, money problems, and relationship difficulties.
What should you do if you encounter addicts or suspect one?
Our recommendation is to get in touch with a company that specialises in gambling addiction treatment and prevention if, despite the advice you got in this article, gambling develops into a problem.
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