Gambling can be a great pastime or source of income when approached with the correct mind and skill-set, adding an extra element of excitement to your favourite sports events or having a good time at your local casino but there are dangers involved.
When gambling, it is imperative that you remain in control and make sure that you stay responsible.
Gambling addiction is a very real threat in today’s society and has ruined many lives and destroyed countless families. In this article we will cover some methods to avoid becoming addicted to gambling so that you can enjoy your gambling without it having a negative impact on your family or your livelihood.
Control Your Gambling With A Strict Budget
The first and most important step is to set yourself a strict budget and to stick to it. Decide exactly how much money you wish to spend and do not go over that amount under any circumstance. You have to accept that the amount you have budgeted is possibly money that you will lose. People often set too large a budget and then, after having a stroke of bad luck, realise that the amount they spent will impact their living budget negatively and feel obliged to keep playing to try and win the money back, of course, spiralling out of control.
Betting is not something that should be done out of necessity. It is not a guaranteed source of income and if you try to rely on it to solve your financial troubles you will only find yourself adding to them even more. Especially if your financial problems find their root in bad bets you made to begin with. Remember that gambling is a game of chance, there is no way to guarantee a win. Of course studying statistics (especially in sports gambling) can improve your chances of making the right decision but there is always a chance that luck will lean the other way.
Never Gamble With Rogue Institutes
The second thing you must make sure of is that you only do your gambling through professional, licensed, audited institutes. There are many rogue institutes out there that are out to do nothing but drain your pocket. When you go with a licensed institute you can rest assured that there is a very strict code of conduct that they have to stick to in order to hold that license. This code of conduct has rules in place that protect both the institution and you as a gambler. They cannot “fiddle” the odds to lessen your chances of making a win.
Do You Have A Gambling Addiction?
It’s not always clear if you have a problem with your gambling and need to get some gambling addiction help. So go through the following questions and decide for yourself if have a problem with your gambling.
How Do You Know If Your Gambling Has Become A Problem?
When you find yourself spending money on gambling that was originally budgeted for necessities such as food, medicine, bills or other living costs in your life then you definitely have a problem. Gambling addiction is compulsive behaviour which an individual may find impossible to stop by themselves despite the negative consequences it holds for their finances. Your gambling costs should never take you outside of your entertainment budget, if you find that they are then it may be time to consider that you have developed a problem and look at getting help.
Most reputable gambling institutions do offer support for problem gamblers through referrals to gambling support groups. If you realise that you need help there are many organisations out there which are aimed specifically at helping problem gamblers, do not be afraid to contact them and get on the road to recovery. The other thing you must not be afraid to do is to reach out to your family and friends for support and guidance. If they can see that you truly want to recover from you problem they will most likely be willing to lend a hand wherever possible.
Do most people gamble responsibly?
While it is challenging to quantify “most” due to the lack of globally representative data, available research indicates that the majority of people can gamble responsibly. In the UK, for example, a report from the Gambling Commission showed that in 2020, 46% of people had participated in some form of gambling in the previous four weeks, but only 0.5% of adults were identified as problem gamblers.
However, this does not mean that gambling doesn’t pose significant risks. Problem gambling can lead to serious financial, psychological, and social issues. Responsible gambling involves understanding the risks, setting limits, and viewing gambling as a form of entertainment rather than a money-making endeavour. It’s crucial to remember that while many people can gamble responsibly, the impacts on those who struggle with problem gambling can be severe.
How do you gamble responsibly?
Responsible gambling involves a number of key principles. The first is understanding that gambling is a form of entertainment, not a way to make money. It’s important to remember that the odds are always in the favour of the house, and you should never gamble more than you are willing to lose.
Secondly, setting a budget is crucial. Determine beforehand how much money you’re comfortable losing and stick to it. This means not only setting a limit for how much you’ll wager overall, but also setting a limit for how much you’ll wager in a single game or during a single session.
Thirdly, it’s important to keep track of time. It’s easy to get carried away and lose track of how long you’ve been playing. Set a time limit for your gambling sessions and stick to it.
Lastly, it’s essential to gamble sober and avoid gambling when you’re upset or stressed. Alcohol and emotions can impair your judgement and may lead you to make decisions that you wouldn’t normally make.
In conclusion, responsible gambling involves a deep understanding of the risks, strict budgeting, time management, and emotional control. If you find that you’re unable to stick to these principles, it may be a sign that you need to seek help.
What is the golden rule of gambling?
The golden rule of gambling is “only gamble what you can afford to lose”. This fundamental principle emphasises that gambling should be treated as a form of entertainment, not as a means to earn money. It acknowledges the inherent risks involved and encourages responsible behaviour.
The premise of this rule is to ensure that individuals only use discretionary income for gambling activities, rather than funds allocated for essential expenses such as rent, food, or bills. By adhering to this rule, a gambler can enjoy the activity without jeopardising their financial stability.
However, it’s essential to understand that following this golden rule does not guarantee to win. The house always has an edge in casino games, and losses are a part of the gambling experience. If one finds it difficult to adhere to this rule or if gambling becomes a source of stress, it may be time to seek help or advice.
What To Do If You Need Gambling Addiction Help?
There are a few notable gambling help services in the UK, many of which can help you if you do find yourself facing a problem with your gambling:
Gamble Aware – Probably the most well-known of gambling advice services mentioned by most bookies and gambling services.
GamCare – Help line, online chat and forum give you a few options for receiving help for your gambling addiction.
Gamblers Anonymous – Very much like the better known service for alcoholics with meet ups.
