Bookmakers and casinos
Many people enjoy spending their money making bets on sports or casino games. What is important to remember is that the house always has an edge against the players. Bookmakers charge a commission for each bet placed. Hence a bettor often needs to deposit $110 to win back $100. The $10 is the juice charged by the bookmaker. Sometimes the bookie can offer reduced juice, hence charging $5 for a bet placed. Nevertheless, in order for the bookmaker to make a profit there must be a commission charged. In the long run the bookie will win over the many gamblers that have placed wagers on sports. Further, the odds offered are always a little against the player. Out of a 100 bets placed, 90 will be lost in favor of the bookie. It is thus always important to remember that. For the online betting service to be profitable, more money must be coming in than is paid out.
Casinos follow a similar policy. Games such as slots or roulette always have a house edge embedded in them. For example, on American roulette the house edge can be 5.26%. Hence, on average the casino will make $5.26 from each $100 waged on a roulette table. Slots can have a house edge of 10% or more. This means that for every dollar waged the house makes 10 cents. This is very important to remember. Casino management thinks long term. In order to make a profit a house edge is embedded in every single game in a casino. Although in the short term a player may win a jackpot, if they gamble continuously they will lose. Many novice gamblers fail to understand this aspect. American roulette includes both a zero and a double zero. This doubles the odds in favor of the house. What is important to remember for a player is that gaming will always benefit the house in the long run.
How gambling should look like
Although gambling is practiced by many, it is important to remember that successful bettors know how to control their gaming. People with a gambling addiction can lose all their income placing wagers on games. Responsible bettors, on the other hand, will know how to restrain themselves and prevent their salaries from simply being gambled away. Below is a list of factors that differentiate responsible gambling from irresponsible betting.
- It is extremely important to be responsible when placing wagers. The first thing to remember is that gambling must be fun. A bettor that gets wiped out entirely losing all their money is not a good player. Betting on sports can be extremely exciting for supporters of various clubs. Keeping betting fun and entertaining is what every bookmaker strives for. Any person joining an online betting club should remember to keep the gambling under control. Losing control over betting can lead to severe material losses and spoil the game.
- A player should set aside some money that they can afford to lose. For example, in their budget gambling expenses should be included. So having extra $200 that can be waged allows a player to place some bets on sports or games. This limit must not be exceeded. For example, if a gambler has lost the $200 they must not place any additional wagers. A player must be sure that they can afford to lose the money they have waged. Further, in order to keep gambling fun and enjoyable having a set budget is mandatory.
- Chasing losses is another way that bettors can spoil their gaming experience. A person with a set limit should withdraw from the betting site once they have lost a particular sum of money. Placing additional wagers and trying to win money back is a recipe for disaster. Controlling one’s spending and understanding that the house has an edge is important. A player must never try going over their limit. If a gambler has a losing streak, they must seize playing the moment they hit their limit. Chasing losses can lead to enormous strains on the budget and easily drain a gambler.
- Controlling winnings is also important. If a gambler is on a winning streak, they should not continue placing wagers thinking they can win big sums of money. For example, a player can afford to lose $200. They placed a few wagers and have received an additional $200. After this moment it can be wise to stop gambling and pocket the winnings. Next time a gambler can again log in onto the website and play some more. This way the winnings can be spread out and the player can receive small but constant sums of money from their bets.
- Understanding that gambling should be fun is important. If a player can see that placing bets no longer entertains them, they should take a break. For example, after a series of wins a gambler has a losing streak. This takes away their pleasure and they see themselves losing money. At this moment a professional advice is to take a break from playing. This way both their winnings can be saved and enjoyment retained. Having a positive memory of victories should not be spoiled by a losing spree.
- Sometimes a player may not only need a financial limit but also a time limit. Spending too much time betting online is bad for the player. Just how losses can be prevented by not going over the money limit, regulating the time spent playing can also prevent a player from losing money. Setting aside two hours each Friday evening and not going over this limit is important. Controlling both time spent playing and money waged can prevent losing cash on bets.
- If gambling is preventing a person from seeing friends or family, they might have a problem. For example, spending too much time in casinos or placing wagers on sports online can be bad for one’s social life. Putting friends and family first ensures that the individual is gambling responsibly. Responsible gambling will ensure that all their money will not simply be lost on online bookmaking sites. Further, if a player finds that they do not have enough time for friends or family this means that they might have a gambling problem.
- As the house will always have an edge against their players, gambling is not a replacement for a job. Placing wagers should be looked on simply as a form of entertainment. Even if somebody has won a lot of money, they should understand that they cannot rely on it for living expenses. Placing bets should only be thought of as fun. Never as a stable income. Casinos and bookmakers exist to provide a great experience for bettors. However gambling responsibly means that the losses or winnings are only seen as part of entertainment.
- Another issue is keeping a stable frame of mind. Having a positive outlook and not playing when depressed or angry can limit one’s losses. For example, placing wagers after a string of losses or when a player is not in a good mood is not recommended. Gambling responsibly means that a player will not enter a book making site when in a bad mood or after a fight. This can lead to losses and financial distress for the player.
- Further, a gambler should be in a good state of mind and not under the influence of any drugs or alcohol. If a player is intoxicated they will not be able to make good judgement and can place extremely poor bets. Drugs and alcohol can ruin a person’s ability to make good decisions. A drunk player can choose to wager too much money and thus break their spending limit. When sober, a player may be extremely careful with their betting. But being under the influence can lead to excessive risk taking and result in financial loss.
- Sometimes a player may need to seek professional assistance. Should a gambler be losing too much of their money or not being able to control their gaming help may be required. If a player is hiding the true extent of their gambling from family or friends, it can be a sign of a gambling problem. Seeking professional help can aid a gambler take control of their betting. A person should not be shy and understand that there are professional organizations made to advise gamblers on how to solve their issues.
Signs and omens to watch out for
There can be plenty of signs that a gambler should look out for to spot a problem. Should players be gambling too much or breaking their limits then help can be necessary. Below is a list of symptoms to consider.
- Chasing losses is the first sign of an addiction to gambling. If a player is constantly chasing their losses and is feeling anxious then they could have a gambling addiction. A gambler is chasing their loss when they try to make up for the losses they have encountered. A good gambler will understand that betting is risky and losses have to be endured. But if a player is constantly trying to make up with additional bets then they should seek advice.
- Another issue arises when people spend more time and money than they have otherwise allocated. A player’s gambling limit is essential to betting correctly. If a gambler finds themselves breaking this limit or spending too much time betting then they have an issue. Overbetting and sitting at nights in front of a computer trying to win back the money are issues to look out for.
- Trying to hide losses from family and friends are a clear sign of an addiction. When a player has lost too much money gambling they begin to feel nervous. Naturally a person in this position will try to hide their losses. They begin lying about their gambling problem and hiding the true extent of the financial damages endured. This is a clear case of a gambling addiction.
- Should a player find themselves constantly thinking about betting or gambling it could be a bad omen. When the mind is preoccupied with games and the player cannot forget the last few wagers they placed it means they have an addiction. Gambling can be addictive and many lose a lot of money to their addictions. After having a good evening placing bets the player should forget the losses and move on with their life. However an addicted person will be continuously pacing back and forward trying to replay their gambles. Going back to the computer each day and seeing if the matches turned in their favor. If a player is preoccupied with betting during the week they might have an issue.
- Another aspect is spending all the money on betting. Breaking every limit that has been set and continuously wagering cash until all the funds are gone and the wallet is empty. Many gambling addicts go into debt trying to make up for their losses. They forget that the edge is always in favor of the house. That in the long run the casino or the bookmaker will always win. Players with serious addictions can forget to seek help and simply borrow money to place more bets online or in person. This is a serious sign and help should be sought immediately.
- Placing wagers can be exciting, the brain receives powerful stimuli from betting either on sport or on casino games. This is why many are attracted to gambling and like to spend money placing bets on games. However if a person feels that they need to increase their stakes to feel the same level of pleasure it means that they have an addiction. Just like increasing the dosage of drugs or alcohol, the addict needs more of the substance to get the feeling of euphoria. Gambling is just the same. To get the same buzz an addict will increase their stakes. This is the only way that they can get the pleasure from the game. In this case help is necessary.
- Many addicts will take on debt to finance their games. Should a player find themselves in debt or needing additional money they might have an addiction or a gambling problem. When a gambler begins to borrow money from their friends or family it means that they have an addiction. In some severe cases bettors can find themselves mortgaging the house and having nowhere to stay just so they can play games in a casino.
An overall feeling of anxiety or depression is another sign of a gambling problem. Most normal players will feel good about their winnings or tolerate their losses. However an addict will feel an extreme sense of depression or anxiety as a result of them placing wagers. Help should be sought if placing a few wagers have spoiled the weekend. Or tossed a gamer into a nightmare or depression the following week.
How to control gambling
Controlling the amount of time spent playing on a roulette or placing money on sports is important. A good gambler will understand the addictive properties of games and try to limit their bets accordingly. Someone with a gambling problem will feel the urge to return to the website to place additional wagers or circumvent the limits previously set in another way. Even though many people can restrain themselves or limit their gaming not all can do it. Below is a list of several ways that bookmakers can help players limit their losses and control their addiction.
- A player can limit the amount of money that they can deposit into their online gambling account. Using deposit limits a gambler can control their gaming. Many online bookmakers offer deposit limits to their clients in order to secure them against irresponsible gaming. Here the person can limit themselves from betting too much money. As previously mentioned, limiting the amount of cash spent on gaming can greatly help a player.
- Another option that is often provided is a gambling clock. This allows a person to see how much time they have spent on the gaming site. As some can simply forget and immerse themselves completely in gaming, a gambling clock is required. This is also known as a reality check. The option provides a great way for a person to control their gaming and limit the time they have spent playing on the betting site. Here the bookmaker will offer a choice to their client to simply limit the amount of time that they spend gambling on the site. It is a great option for restraining oneself against irresponsible betting.
- A third choice is a cool off feature. Not all bookmakers have it, but some allow blocking the access to the webpage. This feature should be used by gamblers that have either won or lost too much money. After a great gambling spree the player should cool off for some time. This allows for them to rethink their bets and better prepare for the next session. Blocking the site for either a day or a month will provide an opportunity to both limit the losses and increase the wins.
- A player should always know their gambling history. How much have they won or lost betting. This way a gambler can make a budget and try to balance their books. If a player has been losing too much perhaps it is time to stop gambling. Or a series of strong victories can predict a future losing spree. Account history is provided by all the bookmakers. This feature should be used by gamblers to track their betting and analyze the results.
- A player can ask to be excluded or blocked from the gambling website for a long period. For example for several months or years. The self exclusion feature is offered by many bookmakers. It should be used by someone who has a gambling addiction and has lost a lot of money. Blocking access to the webpage can help save the players income from being lost. This feature will definitely control gambling for a problem player.
These features help a player control their gambling. Limiting both the time spent playing as well as the money waged can help stem off a gaming addiction. Players that abide by the limits they have set for themselves can both control their losses and increase their wins. An addict will play sporadically, chasing their losses and overspending. This is a recipe for a disaster. Using online features can both stem off addiction and provide a much better playing experience.
Professional help for gamblers
If a gambler has an addiction and has lost a lot of money playing then professional help may be required. Although most people can control their betting, not everyone is immune to getting addicted. Sitting in front of a computer counting each wager and hoping to win a jackpot could lead to losing all the income. Players that cannot balance gambling with personal life or work are at a serious risk. Being extremely shy of losses, or borrowing money consistently can have severe negative consequences. Should a person need help there are several professional organizations that offer expert advice on gambling.
- Gambling Therapy
- Gamblers Anonymous
- Safer Gambling
- NCP Gambling
- American Addiction Centers
- Gambling Help Online
These organizations are some of the few that can help a player limit their gambling or solve their addiction to games. Not feeling shy to contact these organizations is a first step forward. Just like with alcohol or drugs, recognizing the problem is part of the solution. A player should not wait until they lose all their savings or their job and family. Visiting a professional support center can be extremely important when addressing a gambling issue.
If a bookmaker is trying to lure in the customer too much or get the player to wager all their money then perhaps changing the bookie is a good idea. If a gambler has multiple accounts across several betting websites all in red, then getting professional help is important. Many countries around the world have banned gambling because of the risks that have been associated with it. Jurisdictions which allow betting count on both players and bookmakers acting in a professional manner. Whether it is visiting a casino or playing online or sports betting gambling must be kept under control. A responsible player will always understand that gambling is a form of entertainment. Just like visiting a cinema or traveling abroad as a tourist. Having some small losses should not be a concern, just like when a person pays for a movie ticket. However when a player finds themselves in debt or needing to borrow money from friends to finance their gambling, they have an addiction. The organizations presented above can significantly help a problem player game responsibly. Just like alcohol, drinking a pint a day will not damage a person’s health. But drowning oneself in liquor can ruin both the drinker’s life and that of their families.
Entertainment versus Addiction
Casinos and bookmakers always have an edge against their players. This is how they make money from providing games and betting opportunities. Most people that play understand that losing some money is normal. Further, they know that on average the house will win. However this is not the case with everybody. While the first group will gamble with their money as a form of entertainment, there will be people that will think they can become wealthy through gambling. This is not a good case. Winning a jackpot playing the slots is extremely improbable. A person may lose all their income by simply playing the slot machine. Same goes for table games at a casino. The edge is always in favor of the house and any player will end up losing money in the long run.
Sports betting is no different. The bookmaker can provide good odds, but the juice taken will ensure their profits from every bet. Even though an individual may have excellent sports knowledge or be good at the game, the bookie can be better. A gambler should understand that. Problem gambling begins when people try to make up for their losses with bigger bets. Or when they anticipate huge wins and begin to play irresponsibly. In this case an addiction can develop. Although there have been cases of players winning massive jackpots in casinos, the probability of this is extremely low. For every jackpot won there will be a million losses.
An addiction to gambling can develop in the same way that an alcohol or drug addiction can. People require higher wagers placed to get the same feel of euphoria. Or they start gambling away their savings. Responsible gambling ensures that the player has not put their life in peril by placing too many wagers on games. Further, individuals should recognize that betting is done only for fun. Not as a way to make money or become wealthy. Although casinos do like people spending money playing games, responsibility lies on the part of the adult to control their behavior and not put others in danger.