Gambling is a big business globally. Sports betting, especially on football games, has taken hold in most part of the world. However, gambling has also caused problems such as bankruptcy, broken relationships and even suicide for many people. It is therefore important for people to understand the principles of gambling just before placing that bet!
It is important to Know….
Gambling/betting is generally considered a leisure activity. However, unlike many other leisure activities, gambling has immense economic and psychological risks. Whether you or somebody you know gambles, it is important to understand the risks involved in gambling. The fact is, most people lose when they play the lottery, casino or bet. As a result, it is vital that you, your family or friend should protect yourself when it comes to problem gambling. Respbet (Coined from Responsible betting), aims at promoting responsible betting culture, especially among Kenyans.
Problem Gambling
Almost every person who places a bet thinks that it is just a matter of time before they win big. At times, people gamble until their finances, relationships, health or even work are negatively affected. This is the reason why it is important to promote a safer gambling environment.
Tips for Safer Gambling
1. Don’t think of betting as an investment
The reality is gambling establishments such are businesses. And as businesses, their primary concern is making profits. Thus, they take in more money than they pay out. It is more likely that you will lose more money than you make in the long run. Accept that fact!. Really, digest and accept that. All types of gambling have the same principle- Most people lose money so that a few people can have big wins. A mathematician can ascertain to you how hard it is to get that winning bet. The problem is that people with a gambling problem are fixated on the false idea that they would be the next big winners. This belief makes gambling a big business as many people try their luck. But it is just that, luck, and the odds are that you will lose money.
In a nutshell, do not ever think of gambling as an investment….even on the so-called ‘sure bets’… …Weird things happen in sport….
- Gamble with the money you can afford to lose
Always gamble with the money you had budgeted for fun activities like movies, or going for drinks. In fact, it is good to allocate money for betting if you are in it. NEVER use the money for important things such as rent, bills, tuition and so forth. It is also ill-advised to use credit cards or loans for gambling- It might seem obvious, but you will be surprised by the number of people who take loans in the hope that they will win and repay their loans..
- Never Chase Losses
You often come CLOSE to winning, like really close. For example, you can lose a multi-bet by only one game…….. or even a goal. This often makes people think that they can win the next bet. However, it is likely that this will lead to even bigger losses. Do not spend over your limit just because you are chasing a bet.
- Set a money limit
Make sure you know how much you can gamble. When you reach this limit, stop gambling whatever the odds and games that are available. If you lose the money, just quit. And if you win, enjoy, but know that you will not be winning always. It is easier to place more daring gambles after winning a bet.
- Set time limit
Set a time for betting, and if you reach the limit, stop. Some people would spend a lot of time following bets when they are even at work. Gambling, especially on live bets, can make someone lose concentration of other things such as studying or even working.
- Don’t only be a gambler
Some people breath, east and sleep betting. I know people who spend most of their time gambling. It might be funny to call yourself an ‘international investor’ or a professional gambler. But such habits lead to addiction. I doubt if there is an addiction that can be considered to be positive,.Balance your life with other activities you enjoy as well
- Avoid gambling when upset or depressed
Depression affects your decision-making skills. Similarly, avoid gambling when you are under the influence of alcohol or other stimulants. This ties to tips 2 and 3. Some people become ‘annoyed’ when they lose a bet that they decide to gamble on their efforts to recover the bet. If you are in the habit of doing this, you at risk of being an addict.
Respbet thinks that gambling can be an enjoyable activity for both winners and losers if the above principles are maintained. So, all the best if you do decide to place a bet!!
