How To Gamble Responsibly

It is one of the oldest preoccupations in the world – that of having a bet on something. Since the dawn of time, man has bet assets on the outcome of a myriad of situations. And not just sporting events. It is ok to have a bet every now and then, and nothing to be ashamed of. But at what point does it stop being fun, and become a problem? For many in the UK it is just that. A problem that can wreck lives. Moolr have had a look at how to gamble responsibly.

Research

If you feel the need to gamble, then surely it is better that you increase your chances of winning? With this in mind, do your research. Do not bet on names you like, horses in your favourite colour, hunches that have no reason nor on leagues or sports you do not have knowledge of.
By doing research you get a fuller understanding of the risks involved. You get more wins and the satisfaction that comes from that. And you can learn from your losses. Be smart when you gamble.

Head Off Any Addiction

If you are placing bets “just for the sake of it”, then it is time to step back and assess the situation. And consider whether you have a problem. If so, seek advice. Be proactive.

Set A Budget

Gambling can be a huge amount of fun if you’re sensible about it. You should set yourself a maximum you are allowed to lose in a month and if you hit that then you stop. That way it never becomes a problem, just a budgeted expense that occasionally costs you a few pounds here and there.

Having given yourself a “pot” to play with during a month, divide this up so that you can only risk a certain amount a day (maybe a quarter of your initial pot). Set maximum stakes based on this – generally a bet of 10% of your pot would be considered a big bet, 1% a small bet.
You can also set limits within a bookmaker’s website – both deposit and gambling limits for any period of time you choose. Do this to ensure your hobby does not become a problem.

Take An Occasional Break

Sometimes you just need to step back and clear your head. The rush of a series of wins can make you over confident as can the distress of a big loss. If you find you can’t take a few days out then you have a problem.  What’s more, it is never sensible to chase losses. In fact, it is a terrible idea that may see you increase stakes beyond what you can afford to lose. If you have had a run of losses, walk away and accept luck wasn’t on your side.

Canny Betting

If you must have a bet, don’t fall for bookmakers’ tricks. We all love the thought of a big accumulator coming in, but bookies love accumulators. Sensible betting is to pick singles or doubles at most. Use every offer you can find to make the system work for you. If you know something specific that you want to bet on, source the best odds.