5 essential steps for responsible gambling in 2021
5 steps for gambling responsibly: Guide and tips
Playing casino games is one of the most exciting experiences in the world. It’s entertainment like no other that boosts your adrenaline to record-high levels. Yet, considering real money gambling involves risking your hard-earned cash, it must be done moderately and carefully. Things can quickly go out of your control, and you may even become a problem gambler. While many people would say that such a scenario isn’t an option for them – it’s an option for everyone, really. That’s why we’ve listed the most important 5 steps for gambling responsibly. Make sure you remember them and use them on your next gambling adventures.
1. Set a spending limit
The first-ever thing you must do before anything else is to set a spending limit. Gamblers should use only money they are ready to lose and money they can allow to spend. How big or small your gambling budget ends up being will depend on your income. Generally, about 5-10% of one’s budget should go to entertainment, so that’s one way to establish it. For example, if you make $1,000 a week and set aside $100 for entertainment, you can use about $30 of that cash for gambling.
When you spend that money, that’s it for the week. You can return next week and see if you’ll get lucky then. To avoid squandering your dedicated budget too fast, we recommend playing at minimum deposit casinos that accept very low payments of $1 or $5. That way, you can make multiple low deposits, claim bonuses, and make the most out of your cash.
2. Never borrow money to gamble
As we said already, playing casino games is entertainment. Just like when you go to a party and pay for as many drinks as you have money or buy board games within your budget, you should gamble with money you have only. This is an essential step to avoid getting addicted but also to avoid getting into a debt cycle.
If you spend the cash dedicated to this activity, NEVER borrow money. If you lose that money too, not only you won’t turn out a winner for the night, but you will also end up owing money. And the scariest part is that borrowing money for gambling may become a bad habit that could have serious financial consequences.
3. Never play drunk or under the influence
Number one mistake that people who ignore the first two vital steps from this list is playing drunk or under the influence. You should never mix real-money risks with alcohol, regardless of how harmless this may seem to you. Even if you are just tipsy, spending lots of cash is much easier when you’ve had a few drinks. Placing large wagers and ignoring common sense are common mistakes of gamblers who drink while playing. That’s why you should never do it. What you want is always to have control over the situation when you play your favorite casino games.
4. Set a time limit
It’s well-known that players easily lose track of time when gambling. After all, the atmosphere in both online and land-based casinos is pleasant in different ways. The first is private and relaxing, while the latter is energizing and entertaining. It’s only natural to want to stay in those fun spaces as long as possible. However, that often demands making real money wagers, even if you’ve spent your budget. That’s why we recommend setting up a time limit. For example, set a reminder to stop gambling after one hour. If you still have money or even winnings, cash them out and come back another day. This is how you’ll learn to become a controlled and disciplined gambler.
5. Avoid chasing losses and cash out winnings
Finally, the last piece of advice is never to chase losses and not to forget to cash out winnings. People have a fun tendency to play as long as they have money. That’s not the point of gambling when you think about it. The point is to have a blast but, if luck is on your side, to end up with some nice cash prizes too.
So, if you notice that this isn’t your night and you’re constantly losing, remember that it’s okay to stop playing. Chasing losses is the worst possible strategy and often leads to amassing more losses and even debt. Also, if you win a nice amount of cash, it’s wise to cash out your initial deposit immediately and then keep playing with the winnings. In this case, even if you lose everything, your initial deposit will be safe.
Story by Alexey Ryzhov