Responsible Gambling
Gambling is a form of entertainment that carries high risks. The main risks are financial collapse and gambling addiction. However, by following a few simple rules while playing, players can reduce these risks.
One of our goals at bw-thailand.com is to inform our players about gambling. This means you should learn the necessary skills to prevent addiction and keep gaming as a hobby rather than a harmful habit. Therefore, here are 3 pieces of advice for gamblers:
- Stay on top of your finances
- Stay in control of your time
- Participate purely for amusement
First Advice: Stay on Top of Your Finances
Managing your cash flow is a good way to avoid problem gambling and helps reduce the risk of your gaming harming your financial status. There are several methods of money management that can be applied to limit gambling, as described below.
Set Up a Budget
First, think about how much money you need to set aside for your daily needs (food, insurance, rent, education, etc.). When it comes to gambling and sports betting, decide how much risk and loss you can tolerate. Set limits for yourself daily, weekly, and monthly.
Set Boundaries
Decide how much you are willing to risk, spend, or lose on a single bet. To help you stay within your limits, we recommend using the restriction features provided by most operators. This way, it will be easier to stick to your plan.
Avoid Using Credit Cards When Gaming
If you gamble with borrowed money, your play becomes riskier. In addition, the potential losses may not only cause you pain but also affect your loved ones.
Collect Your Prize Money
If you win a big prize, it is advisable to withdraw some of the money. Once you have made a decent profit, stop playing, as continuing may increase your chances of gambling harm. Avoid placing large bets, as such actions may tempt you to take on more risk.
Keep Bank Withdrawals to a Minimum
Ask your bank to limit the amount you can withdraw.
Stick to Your Strategy!
The most important thing is to make sure you stick to your plan! Remember, if you decide to follow a budget or set limits for each bet, you should respect them. Regularly check your gambling habits: are you still spending within your set limits? Are you following the time you allocated? It is always a good idea to seek advice on practical methods to prevent developing unsustainable gambling behavior if you find yourself unable to keep to your limits from time to time.
Second Advice: Stay in Control of Your Time
Players should set their own budgets and time limits before engaging in any gambling activity.
Why Should You Keep Time Records?
Most sports bettors are also enthusiastic sports fans who enjoy following championships. The adrenaline rush while watching sports events, such as a football match, can alter our normal sense of alertness.
Therefore, it can be difficult to keep track of time, especially if you are chasing the best odds or placing bets during the rush of live gambling.
Players in casinos or poker games often show similar behavior.
Excessive gambling can cause you to neglect other aspects of life (exercise, career-related work, education…). Poor time management may also negatively affect relationships.
What Is Your System for Managing Your Time?
Stopwatches and time limits are just two of the tools many gambling providers and bookmakers use to help players track the time they spend gambling. If your favorite operator offers this, using it may be helpful. These tools let you choose in advance how long you want to spend betting and make it easier to track your success.
If your preferred bookmaker does not offer this function, you can still create your own simple system by setting alarms or using a timer on your phone to track the passage of time while you bet.
Estimating the time you want to spend gambling and comparing it with the actual time you spend is another useful strategy. You can record your weekly gambling hours to track your activity. Don’t forget to include time spent thinking and researching potential bets. You may limit your gambling time if you find yourself underestimating how much time you actually spend on it.
Where Does It Stop?
Since the amount of time spent varies greatly among players, it can be challenging to define what counts as too much. Choose a reasonable limit, and consult friends for their advice.
You can also set limits with help from the Canadian Centre on Substance Use and Addiction’s low-risk gambling guidelines. These guidelines are the result of a five-year investigation including game data, player survey results, and expert opinions. To reduce the risk of developing gambling addiction, you should limit gambling to no more than four days per month.
While exceeding the recommended number of gambling days does not necessarily mean you have a problem, it does increase your risk.
Third Advice: Participate Purely for Amusement
If you feel you are in control of the situation, gambling—like other forms of entertainment—can be enjoyable in moderation.
It can become highly stressful when you lose control of your own play and find yourself chasing lost money.
Gambling addiction may make it difficult for some people to focus on other important tasks. You should be aware of the warning signs that this activity is no longer just entertainment, such as mental stress, anxiety, depression, financial difficulties, and relationship issues.
What Should You Do If You Encounter Addicts or Suspect One?
Our advice is to contact organizations that specialize in the treatment and prevention of gambling addiction if gambling continues to be a problem even after following the recommendations in this article.
This link may be helpful for you:
