We love sports betting! This fun and exhilarating activity is an excellent pastime and also allows you to make some money. The thrill experienced as you anticipate a win is irresistible and is what keeps us coming back for more.
But, as with everything, engaging in sports betting is best done in moderation. You must play responsibly and understand how to protect yourself to avoid getting into problem gambling.
In this article, we look at some useful tips to apply as you bet to ensure that you engage in sports betting responsibly.
Keep it Recreational
Keep in mind that sports betting and gambling are recreational activities. They are not and cannot be a profession. Most people try to replace their primary source of income with gambling or sports betting such as sbobet, and this could lead to debt should losing streaks occur.
It is also not advisable to gift lottery tickets to people under 21 years old. They are too young to grasp the concept of responsible gambling and sports betting, which could get them addicted.
Use Money Responsibly
Any money that you use in gambling or betting should be strictly surplus. Never use the money for rent, utility bills, insurance payments, or tuition.
Additionally, do not use money that is set aside for family or living expenses. Set spending limits to control the extent of your gambling. Under no circumstances should you spend beyond this limit, even if you think you can win that money back.
Don’t Chase Losses
Chasing losses is a gateway strategy to problem gambling in sports betting and other forms of gambling.
Ensure that you do not chase your losses, or you could end up in debt. It is vital to keep in mind that gambling is an activity that encompasses wins and losses. So, if you are only expecting to win, you are not emotionally prepared to place sports bets, play the lottery, or gamble.
Set Time Limits
Decide how much time to spend on gambling, and should you reach that time limit, stop betting. Setting a time limit helps you to moderate your actions, and reduces the chances of you overspending your money or getting addicted to gambling.
Don’t Gamble When Upset, Depressed or Drunk
It is tempting to place a bet when you’re upset or depressed with the aim of reversing your feelings or when drunk out of sheer exhilaration. This action is not advisable as it isn’t possible to make the right decisions about gambling when you are feeling down. Gambling under the influence also results in poor choices, which you may later regret.
Utilize Help Resources
If you find yourself spiraling out of control in sports betting, there are useful resources and actions that you can take that can help you to recover. Visit:
- Your GP and talk to them about the problem. They could recommend CBT to help you or if you are aged over 16 and live in England and Wales, refer you to the NHS National Problem Gambling Clinic
- Gamblers Anonymous UK – they hold local support groups that use the Alcoholics Anonymous 12-step approach to recovery from addiction
- GamCare – they offer free information, face-to-face counseling, and support. They also run the free National Gambling Helpline 0808 8020 133.
- Gordon Moody Association – they offer residential courses for men and women who have problems with gambling.