Learn how to understand gambling and how to gamble responsibly.
Here are some key tips to help you gamble responsibly:
Treat gambling as a source of entertainment rather than a source of income - Some people make a living as professional gamblers, but they are few and far between. For many it should not be considered a source of income.
Never bet outside of your means - Only gamble with a set amount of money that you can afford to lose. Never bet with money you need for rent, bills, food or other necessities.
Bet 1% of your bankroll at a time - It helps some people to set a bankroll for the season. Then increase your stakes gradually if you are making an overall profit, or decrease them if you are down.
Set a money limit in advance - If you are going to the races or visiting a casino, make sure you are gambling money you can afford to lose. If you make a profit, that is great. But do not exceed the pre-determined amount if luck has not been on your side.
Never chase your losses - This can cause you to act irrationally and incur greater losses.
Try to take regular breaks between gambling - If you lose, walk away, assess what went wrong, regroup and return with a clear head. You can lose perspective if you gamble continuously, so breaks are crucial.
Do not gamble when drunk - This can negatively impact upon your judgement and impair your ability to make sensible decisions.
Do not gamble when you are depressed, angry or upset - This can also negatively impact your ability to make clear decisions.
Try to bet from a position of knowledge - Arm yourself with a wealth of information about the sport you are wagering on, and make educated guesses. If you are playing slots or table games, build up an extensive knowledge of how the game works.
Do not let gambling interfere with daily responsiblities - Never skip work to gamble, and do not let it interfere with your relationships and your family life.
Make sure gambling is not your only interest or hobby - Balance it with other pursuits.
Keep track of the time and money spent - Use diaries and bet trackers to keep track of your time and money spent gambling.
Gambling is an exciting and enjoyable form of entertainment for millions of people around the world. The vast majority of people gamble in a safe, responsible fashion and find that they are able to stay in control of their gambling.
However, surveys suggest 0.5 to 3% of the gambling population slip into a pattern of problem gambling, and it can have a harmful impact.
It is therefore vital to understand how to be a responsible gambler and ensure that it remains a fun source of entertainment.
We have created this dedicated responsible gambling resource in order to provide our readers with trustworthy advice and to promote the highest standards in responsible wagering.
You will find practical tips to help you stay in control of your betting. These include tracking your spending, managing your bankroll, maintaining a betting diary and setting deposit limits. We will also explain the self-exclusion and time-out options available to you.
Read on and you will find detailed guidance on how to manage problem gambling, information about the support you can benefit from, and details about how to protect minors.
Sports betting involves making a prediction on a sporting event. It could be the final result, or an event within a game, like the total runs in a cricket match, the first goalscorer in a football game or the winner of the opening set in a tennis match.
The bookmakers will assign a set of odds to each outcome, depending on how likely they think it is.
For example, you might see odds of 1/8 on Liverpool beating Norwich, and 30/1 on a victory for Norwich. A £10 bet at odds of 1/8 would earn you a profit of just £1.25 if successful, whereas a £10 bet at 30/1 would yield a £300 profit.
It indicates that the bookmakers believe Liverpool have a great chance of winning. However, there are no guaranteed winners. Upsets happen on a regular basis. In fact, if you were to bet on the favourite in every match or every race, you would be likely to incur a loss overall.
Or if you are betting in America sports bettors may look to bet on the final result, or an event within a game, like the total points in an NFL game or the amount of 3-pointers a basketball player will make.
In the United States, you might see odds of -300 on the Seattle Seahawks beating the Los Angeles Rams. A $10 bet on the Seahawks would earn you a profit of $3.33 if successful. It indicates that the bookmakers believe the Seahawks have a strong chance of winning.
What is important to remember for all sports wagering is that around 95% of all sports bettors tend to lose in the long run and although every sporting event and market has a winner to be found it may not be you each and every time you place a bet.
Casino gaming includes slots and table games such as blackjack and roulette.
These games sometimes involve a degree of skill, but they are mainly games of chance. When you play blackjack or slots online, a Random Number Generator (RNG) produces the results.
Reputable, trustworthy online casinos are strictly regulated, and the RNG software they use is regularly audited to ensure the games are fair. However, they are set up to give the house a slight advantage, and even the most generous slots will only offer you a Return to Player (RTP) of 98% to 99%.
RTP is calculated over thousands of spins, and it does not indicate the return you can expect if you simply play for 10 minutes. But remember that you cannot predict the outcome of the game. A computer driven programme generates a sequence of numbers at random, and that produces the result.
Just like Sports Betting, playing at the Casino, whether online or in person carries monetary risk and an in-built house edge for the operator or casino which means the house always wins.