Sports betting is everywhere these days, as the industry continues to expand globally, with more betting sites appearing all over the world: technology makes it possible for the best cash out betting sites in Nigeria, Kenia, Europe or the United States to provide ever more innovative ways to bet.
Unfortunately, there are some dangers and pitfalls out there. In particular, the expansion of online betting has made it easier than ever for people to bet irresponsibly, putting themselves and their families at risk. So, what can you do to ensure that if you bet, you do so responsibly?
Understand the Risks
While betting on sport is harmless for most people, for some it can lead to gambling problems and addiction. Gambling addiction sounds unpleasant, but the full reality of what this condition can lead to is horrific. An addiction to sports betting can have terrible consequences including:
· Financial ruin
· Loss of employment
· Loss of family
· Loss of home
· Chronic Depression
Being aware that gambling problems are very real and can be life-changing and even life-ending, is an important step in protecting yourself and betting responsibly.
It is true that sports betting, technically, is not the same as casino gambling. In a casino, you will always lose in the long term, because of the house edge on every game and on every spin of the slot reels.
Yet just because it is technically possible to make a small profit from sports betting, that doesn’t mean you will be able to. In fact, the chances of that happening are astronomically small. If it were that easy, then bookmaking would not be the lucrative profession that it is. So, if you are thinking about having a bet on sport for the first time, then read through and fully accept this checklist:
· Sports betting will not make you rich
· Sports betting will not solve your financial problems
· Sports betting is not a career
The level of work and starting capital required to even approach making a sports betting profit is way beyond what most people can meet. Sports betting should be a fun, affordable hobby, either adding a little extra interest to a sports event or giving you a minor intellectual puzzle to wrestle with.
Set Strict Limits
Given that sports betting should be a hobby, you should fund it in the same way that you would fund a hobby or a leisure activity and ensure that it doesn’t take over your life.
· Only bet with money you can afford to lose
· Set strict limits on how often and how long you spend betting
· Set strict limits on how much money you wager on each bet
· Never drink and bet at the same time
· Never bet when you are upset, angry or more emotional than usual
What if you don’t have enough money to set aside for sports betting? The solution is simple. Don’t bet. Wait until you can bet with money that you can afford to lose. Any other approach is irresponsible.
Being susceptible to gambling addiction is nothing to be ashamed of. All of us at certain points in our life can fall into addictions of one form or another. The key thing is that you recognise the risk. Here are some of the most common signs that you might have a gambling addiction:
· Feeling guilty or ashamed about your betting
· Hiding any aspect of your betting from your family or partner
· Borrowing money to fund your betting
· Neglecting work or family life to spend more time betting
· Chasing your losses
If any of these signs apply to you, stop betting on sport immediately and seek help and advice. All licensed betting sites are required to provide extensive responsible gambling tools, so use them. Ultimately, self-exclusion from all sports betting sites is the most effective method to protect yourself.
For most people, sports betting is a harmless activity. But by ensuring that you bet responsibly, you add an extra layer of protection for you and for your loved ones and insulate yourself further against the risk of problem gambling and addiction.
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