Do you know what is responsible gambling, and what are its key implications? Read this post to know more in details!
What does responsible gambling actually mean? Is it meant to keep the experience fun without taking any emotional or financial stress? Is it about setting limits before starting to play in an online casino? The way you see it can vary from one person to the other, but you should be well aware of the basics. There are 4 key principles to responsible gambling, and you need to apply these, the next time you play a card game, slot machines or bet on live sports.
Setting A Predefined Limit For Losses
The first rule of responsible gambling is to view it as a form of entertainment, rather than trying to chase losses. You should always have a stop loss limit that suits your budget. Don’t be driven by temptations that you will be able to recover your loss by playing more.
Playing In A Social Setting, With Colleagues, Friends Or Family
It will automatically be a fun thing if you gamble with your family or friends, since this is the best way to know your limits. The casino software won’t tell you when to stop; you need to decide for yourself.
Gaming For A Restricted Amount of Time, Both In Duration And Frequency
There should be a fixed number in your mind regarding both time and money you are willing to spend in gambling. If you are a full time employee, it’s not wise to keep betting when at work, as it can have a psychological effect on your productivity. Also, you shouldn’t be using even a penny more than what you can afford to lose.
Taking A Break
No matter whether you have won a jackpot or suffered a streak of losses, taking a break helps a lot. Even though you think you are not churning money, you are saving a lot that you may potential lose in a fit of rage.
Other Guidelines To Remember
Apart from these four key points, there are other guidelines you can follow for responsible gaming:
- Gambling is a personal choice and no one should feel the need or be pressurised to gamble, just because their friends or colleagues are doing so.
- Gambling is meant to be a fun game, but it’s not the only thing that gives you fun.
- Money spent on gambling should be treated as cost of entertainment and you should know how much you are willing to pay for it. This should be figured out even before you start to gamble.
- Never ever bet with money that you have borrowed from someone.
- Never try to make up for prior losses and never gamble in a situation where it interferes with family or work responsibilities or when the gambling form is illegal.
- Avoid gambling when you are under stress, feeling depressed and lonely, or when you are trying to solve personal issues.
- If you are an alcoholic person, stay away from gambling, since alcohol can affect the judgement of a person and curb your ability to stick to your plan and control gambling.