RSS
ATOM
JSON
Description:
The internet has made gambling easy—too easy for some and just convenient for others. This article addresses the former group. They're the ones who run into a streak of luck and think they can make a living gambling, only to fall into a hole of losses and never really know how to escape the trap. For a brief time, I nearly became one of those people.
My gambling goes back to when a guy named Red and his buddy showed up at my doorstep on the Tuesday of a sports betting week to collect. But it wasn't until I discovered internet poker that I thought I could make a living gambling. I played for a couple of months, got familiar with the game, and watched my bankroll build. Then I decided to go from the $1/$2 blinds to the $5/$10 blinds. My, what a difference.
Tips, Stories, and Warnings
Here are some tips for enjoyable and responsible gambling:
Don't chase losses: Don't try doubling your next bet after losing the previous one because you think your luck has to change. Random number generators (RNGs) on online casino games don't think that way. Doubling after losses is flawed thinking, as explained by the Gambler's Fallacy phenomenon. I've tried Fibonacci, Martingale, and other wagering systems. They may work temporarily, but not in the long run.
Narrow your scope: With sports betting, pick a conference to concentrate on - don't wander over a board of 140 college teams. I learned this after suffering many losses on teams I didn't research. Bowl games are the worst for me.
Pick a few internet games you know you can win with strategy. If you want to try a new game, try it in the free or demo mode to see how the money runs. I have six slots I have become familiar with, and I play video poker and table games in which I know strategy.
There are plenty of short questionnaires that indicate if you have a problem. Answer those questions honestly and take action accordingly.
Responsible Gambling Tools
Here are good starting points for your responsible gambling journey.
Sites to check out:
National Council on Problem Gambling: The NCPG website has a lot of information on gambling addiction and a good FAQ with a list of problem gambling indicators.
Responsible Gambling Council: This is an independent organization with a site that covers industry trends in problem gambling prevention and offers links to other valuable resources.
American Gaming Association: An industry organization, its website has a page with good information and statistics on playing responsibly and links to more valuable info.
—---------------------------------------------------------------------------------------------------------------
“Wagering should not dictate other areas of your life.” - Webster Lupton - Casino, Gambling, and Sports Journalist.
—---------------------------------------------------------------------------------------------------------------
Use tools available: Most gambling sites provide tools such as self-exclusion, time-out periods, time and deposit limits, activity statements, in-game reminders, and more. They are all great tools to employ if you get carried away.
Know when a bonus is a bonus: All online gambling operations provide flashy bonuses. But the bonuses have playthrough requirements that prevent you from cashing out until you have met them. Don't take a bonus until you know its rules. Read the terms, assess your betting style, and ensure the requirements are achievable.
Take the test: Answer these questionsperiodically to indicate if you are a compulsive or problem gambler. I answered "yes" to three of them, which made me think.
Conclusion
I've offered advice on responsible gambling, but the ultimate responsibility is yours. Like any other form of addiction, the line between a bad habit and moderation is up to each individual to assess. Few gambling sites will cut you off because you deposit too much, and their responsible gambling tools are self-executing. That means the onus is on you to be vigilant with your gambling practices and know the difference between casual entertainment and obsession.