Gambling encompasses a diverse range of activities, from sports betting to casino games, and has evolved in recent years to online platforms better known as iGaming. However, the fundamentals of gambling are the same across the board – all based on odds and payouts. Ensuring you are gambling responsibly is similar across various activities. Simple principles like understanding odds and setting personal and financial limits can be applied to betting online or in person to enhance your safety and security.
Here are five simple ways to foster a more responsible gambling experience:
1. Understanding the basics of gambling
There are a variety of games and events which sit under the umbrella term of ‘gambling’. The most common are sports betting and casino games, like slot machines, whether that’s online or in a physical casino. Sports betting involves placing a wager on the outcome of an event such as the scoreline of a sporting event or winner at the horse racing. On the other hand, casino games are comprised of three (3) elements which are prize, chance and consideration.
However, both use odds to calculate the potential payouts. Typically, higher odds mean lower probability and greater potential payouts, while lower odds imply higher probability and smaller winnings. Understanding this fundamental of gambling is the key to gambling responsibly. Knowing what you are betting and what you could potentially win or lose can help you to make an informed decision.
2. Setting limits
Gambling should be a form of entertainment. It’s important to set both time and financial limits when gambling to ensure responsible play. Time limits can help prevent gambling from consuming your life. Scheduling when to play or place a bet, as well as setting alarms that signal when it’s time to stop, can all help to manage your time better. Also taking regular breaks and engaging in other activities can help prevent excessive play. Similarly, setting financial boundaries can help protect your resources and prevent gambling from negatively impacting your wallet. Only ever gamble what you can afford to lose and never chase a win. Allocating a strict budget can help prevent overspending. Online platforms often offer tools like deposit limits and loss limits to help you control spending which you should look to utilize when playing in a social casino.
3. Recognizing and managing emotions
You know yourself better than anyone else. Recognizing when you may be becoming too emotionally invested in the game can help you gamble more responsibly. If the loses are starting to make you feel stressed or anxious then stop, take a breath, assess your situation, and then once you have regulated your emotions you can decide how to proceed. You should never decide based on impulse or emotion. Taking frequent pauses and practicing mindfulness techniques can all help you to manage your emotions so that you make rational decisions.
4. Ensuring safety and security
When playing online a secure payment method can be helpful in safeguarding your transactions. Please be aware of any suspicious activity on gambling sites. Only play on trusted, regulated sites than can help detect and prevent fraud. Following these simple steps can help protect your personal and financial data and create a safer environment when gambling.
5. Knowing when to seek help
Skrill understands that to most gambling is a recreational activity and form of entertainment. If you have noticed a shift in your attitude towards gambling or are finding it difficult to stop please call 1-800-GAMBLER, text 800-GAM and/or email 1800GAMBERchat.org. The hotlines provided are part of the National Council on Problem Gambling which connects people to a helpline network providing confidential and nonjudgemental support for individuals affected by problem gambling. These resources have been instrumental in helping people regain control or from preventing any issues from occurring.
Don’t forget there are also several tools at your disposal such as time and credit limits, as well as temporality suspending your account, which can help to foster a healthier relationship with gambling.
Summary: Adopting these five practices can help you to gamble responsibly
The key to gambling responsibly is ensuring you are always in control. As a player, you have a range of tools at your disposal to ensure responsible play. From practical resources such as time limits, deposit limits and helplines, to personal tools such as practicing mindfulness and taking frequent breaks, you can look to take a disciplined approach to gambling.
Using a secure payment method like Skrill can help protect your financial data. All these practices can help put the power back in your hands as you get to decide where and when to play, how long for and how much to bet. Remember, if you are ever finding yourself in a difficult situation then stop, pause and think. Control your emotions and reach out if you need further support to help contribute to a safer gambling experience.
This article contains information about gambling and betting; however this article and content does not constitute “advice”, nor does it constitute any “recommendation” on whether or how to engage in gambling or betting. The information contained in this article should not be relied on for any gambling, financial, or other transaction.
Further, neither Skrill USA, Inc. nor any of its Affiliates, endorses or makes any warranties regarding the accuracy or reliability of any opinion, information, or statement provided throughout this article. All gambling or betting content contained on or made available in this article is for educational, informational, and/or advertising purposes only.
Skrill USA, Inc.does not endorse or promote any form of wagering or gambling. Please note that all forms of gambling and betting (online and otherwise) carry with them inherent financial risk and risk of financial loss. Any gambling or betting activities should be exercised with responsibility and moderation in compliance with all applicable laws and regulations. If you or someone you know has a gambling problem, Call 1-800-GAMBLER.
Skrill USA, Inc. (NMLS:935195) is an entity registered with FinCEN and licensed as a money transmitter in various U.S. states and territories. Please visit https://www.skrill.com/en-us/footer/statelicensing/ for more information. Among its state money transmitter licenses, Skrill USA is “Licensed as a Money Transmitter by the New York State Department of Financial Services.” Skrill® is a registered trademark of Paysafe Holdings (UK) Limited.
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