Online gambling has exploded in popularity over the past decade. With the convenience of betting from home through computers and mobile devices, more people than ever are trying their luck at online casinos, sportsbooks, poker rooms and more. But the instant gratification and ease of access also come with risks. Irresponsible gambling can lead to financial ruin, relationship problems, mental health issues and so on. Fortunately with some mindful practices, online gambling can be enjoyed responsibly and safely.
The number one rule for responsible online gambling is to only bet what you can afford to lose. Before you create any accounts, decide on a set budget for gambling based on your income and expenses. This money should be purely for entertainment, not funds needed for rent, bills, or other necessities.
Once you set your budget, deposit only that amount into your gambling account(s). As you play, keep track of your wins and losses to stay within your predetermined limit. Resist the urge to chase losses by depositing more money. If you lose your entire budget, stop playing. Set a calendar reminder to deposit at Play Fina more only after your next pay period.
|
Monthly Income |
Max Gambling Budget |
|
$0 - $2,000 |
$50 |
|
$2,001 - $5,000 |
$100 |
|
$5,001 - $10,000 |
$200 |
|
Over $10,000 |
5% of income |
In addition to budgeting your money, you should also budget your time spent gambling online. Online casinos and betting sites are designed to keep you playing longer, enticed by bells and whistles and convenience. Set a timer when you log in and stick to a predetermined session length. One to two hours is reasonable for most people. This allows you to enjoy your favorite games responsibly without letting play time encroach on your daily responsibilities.
All online gambling sites are not created equal when it comes to security, game fairness and responsible gambling policies. Only play at sites licensed in well-regulated jurisdictions like Malta, Gibraltar, Alderney and Isle of Man. Check independent audits of game libraries for reassurance that outcomes are truly random. Read the site’s terms and practices related to problem gambling resources and self-exclusion policies. Reputable sites make it easy to set deposit/loss limits and take breaks from play.
No one sets out to become a problem gambler but sometimes the thrill pulls players down a slippery slope. Learn to identify signs of risky behavior in yourself and intervene before losing control. Do you become irritable or anxious when trying to cut back play time? Are you preoccupied with gambling and unable to focus at work or school? Are you jeopardizing relationships by spending less time with family and friends in order to gamble? Do you gamble when stressed, lonely or bored rather than addressing the underlying issues? Any “yes” answers indicate risky gambling behavior to rein in.
If gambling begins negatively impact your finances, emotional state or daily functioning, get help before the problem gets worse. Talk to a trusted friend or family member about your situation. Call a problem gambling hotline to speak with experts. Seek counseling to address the root causes driving your excessive gambling. In extreme cases, you may need to exclude yourself from gambling sites or software that blocks access. With early intervention, problem gambling can be overcome before hitting rock bottom.
Ultimately the best frame of mind for responsible online gambling is viewing it as entertainment and a hobby, not as a money making operation. Have realistic expectations about winning and losing. Know that the house has an inherent mathematical edge no strategy can overcome long-term. The responsible online gambler gambles for fun, joy and that casino high, not to strike it rich and pay this month’s rent. Wins should be considered a nice bonus, not relied upon income. Keeping gambling recreational and only risking discretionary money is key.
With a bit of self-control, common sense and safeguards, online gambling can be enjoyed responsibly by the everyday player. Those who learn to balance excitement with pragmatism can make their entertainment dollars stretch further and avoid the pitfalls of addiction and financial ruin. Gamble online at licensed sites in moderation for what it is – a fun diversion from the daily grind. Use the tips in this handbook to keep your play sensible as well as thrilling.
