Responsible Gambling

September 5, 2020

What is Responsible Gambling

The notion of responsible gambling is not a novel one. At the same time, we witness novel gambling that has burgeoned bountifully like the proliferation of online gambling and tribal casino growth in the US. While legislators are welcoming a more proactive responsible gambling, the need for a fine line to be rightly positioned is a necessity.

The silver lining between a compulsive gambler and a responsible gambler is by the amalgamation of best practices engendered by the casinos and legislators, that dissuades problem gambling and concurrently stimulates the business. However, ultimately, it all depends on the mental and emotional wellbeing of the gambler.

Never Gamble Money You Can't Afford to Lose

Never Gamble Money You Can’t Afford to Lose

This might seem the most blatant fact out there for you. Despite this crystal-clear fact, compulsive gamblers frequently indulge in utilising money set aside for something else as plain as groceries to crucial things like children’s education fees.

The money you cannot afford to lose simply means you cannot exhaust your cash solely for the purpose of amusing yourself.

Don’t Chase Losses

This phrase simply means to continue your yearning for gambling despite several losses. This notion of the gambler is viewed as problematic because the whole concept of gambling is about winning back what you have lost.

If you are not equipped to do that, don’t be chained down under the vicious grip of gambler’s fallacy. This is the belief that eventually, Lady Luck will bless you with good fortune, despite the fact that it has evidently been the other way round.

The candour remains that odds do not transform based on previous events because these are all independent events. Each and every spin of the roulette wheel is a distinct event, dissociated from the previous episode.

Set Gambling Loss and Time Limits

Set Gambling Loss and Time Limits

The absence of clocks in a casino makes it a Herculean task for you to keep track of time. Therefore, it is crucial that you set predefined limits; otherwise, you will lose more money than you can actually afford in the long run.

Responsible gamblers have an objective in mind that ushers them to strategize and make prudent decisions. For this, you require a clear head and an appropriate state of mind, which means you might have to capitulate your penchant for alcohol while playing because overconsumption can lead you to initiate bad decisions.

Finally, a responsible gambler will amalgamate his amour for gambling with other activities like dining out, enjoying concerts, and much more – a perfect blend of all activities.


Responsible Gambling