With almost 44% of Brits gambling online at some point during 2022, there is no denying that online gambling is gaining popularity in the country. The rise in this sector of the £14.08 billion industry is thanks to the increasing availability of online casinos in the region.
Just like most video game players know when to stop, many gamblers have no problems playing within their means and remaining responsible while playing online. However, some face problems with addiction, debt, and spending much more time on the activity than they want to. Issues like these can lead to significant losses that could affect more than just the individual’s finances.
Therefore, always remember to be responsible when playing online. Following the tips below will help you keep your gambling in line and ensure you can get the most out of the convenience that online casinos and sportsbooks provide.
Do your research before you start gambling.
One of the best keys to ensuring you gamble responsibly is to do your research before you begin playing. The research includes checking whether the site you’re planning to use is legitimate and properly licensed to offer gambling activities by authorities like the UK Gambling Commission.
More than this, researching which games have the best RTP (return to player), odds of winning, or volatility can also help you spend less on the entertainment you receive. Information like this is readily available online and can make a big difference in the long run.
Set clear gambling limits and stick to them.
Ensuring you know how much you can afford to lose is critical to staying responsible while playing. To do this, you’ll need to work out a budget for your finances and see how much disposable income you have after you’ve paid everything you need to—including putting money away for a rainy day.
Once you have figured out an amount you can safely spend on gambling, stick to it. If you achieve this, your losses won’t impact your financial stability. At the same time, any wins will allow you to keep playing or use the money for something else you want.
Don’t use other people’s money to gamble.
Never use other people’s money to fund your gambling needs. While it may seem easy enough to deposit a few more quid using your credit card, the money you’ll then be playing with isn’t truly yours, and you’ll need to pay it back, whether you win it back or not. Failure to make payments because you’ve lost the money can lead to a bad credit rating and fractured relationships.
Aside from credit cards, never approach friends, family, or loan providers to access more money for gambling. Instead, stick to the rule that if you don’t have surplus money in your account, then you can’t gamble. In situations like this, it would be more responsible to use free slots online that provide the same entertainment without the cost.
Watch how long you’re spending online.
Whether you’ve been on a winning streak playing the hottest new additions on your favourite online casino or are cashing in on its best wager-free bonuses, keeping an eye on how long you’ve been playing is essential. Doing this will ensure you don’t spend too much and help make provisions for further gambling sessions.
Therefore, setting a time limit before logging on and gambling is the best practice. Once this is established, you’ll know it is time to cash out any winnings after a certain period and log off. The additional time you can save can be spent pursuing a variety of other things like alternative hobbies or spending time with family.
Never try to make back any money that you’ve lost.
Many gamblers say they will stop playing as soon as they recoup their losses. However, the sad reality is that, in many cases, losses aren’t likely to be recovered once they’re gone. This is because of the house edge that each casino has that allows them to gain money to pay out other prizes and cover operational costs.
If you’ve lost, it is better to make peace with the loss and understand that you’ve used the money to gain entertainment in the time you’ve played. Getting these losses back can lead to spending even more money, and you still have no guarantee that you’ll recover. It’s precisely this line of thinking that eventually gets compulsive gamblers into life-destroying debt.
Use your head, not your emotions.
While some gamblers state that they can ‘feel’ when a big win is coming, there is no evidence to support this. Saying this has proven to be more of a justification to continue playing based on emotions than concrete evidence that a win is coming.
To avoid this pitfall, always play based on your logic and not your emotions. Playing using your head will allow you to acknowledge when it’s time to stop playing and have the resolve to quit. It is also never a good idea to play if you’re feeling depressed or stressed. Gambling can quickly become an escape in situations like this, which leads to easier addiction and could end in massive losses.
Don’t feel ashamed to reach out for help.
Admitting that you have a problem gambling is nothing to be ashamed of. It shows that you are strong enough to face reality and have the resolve to sort the problem out. Thankfully, getting help is easy.
Every online casino available offers programs for gamblers that may be battling with addiction. One of the biggest of these is BeGambleAware. Offered 24/7, this initiative allows players with gambling problems to reach out and get instant help. Aside from programs like this, casinos offer self-exclusion features that allow you to effectively ban yourself from using their services. If this is slightly too harsh, many also provide the option to limit how much you can deposit and play or even be logged on during a single session.