According to some estimates, close to 1.6 billion people gamble once per year. Moreover, 4.2 billion have bet at least one time during their life. Thus, it is clear that wagering on uncertain events is an innately human characteristic. One that obviously most enjoy. The exhilaration that betting with looming real money prizes brings is something that few other activities can provide. That said, gambling carries with it risks of a financial, emotional, and social nature. Like with everything else, practicing moderation when playing physical or casino games online is essential.
Thankfully, the percentage of people that have a predisposition to get addicted to this activity is not high. It usually falls in the 3% to 2% of the general population, with men being more in danger, as they are far more likely to develop impulse control issues than women. So, anyone considering setting sail on a gaming voyage, whether on the internet or at land-based establishments, should do so responsibly, keeping in mind the following tips.
Newcomers to the gaming sphere must understand that casinos are a business, the same as any other. That means they have a model they follow that guarantees that they turn enough profit to keep the lights on and the revenues flowing. It entails that all the games that they provide favor them. The term house edge is likely something that most people have heard. It signifies a mathematical advantage that all casino games have built into them. That ensures that in the long-term, the operator always comes out ahead. Even though in the short-term, anything is possible. The house edge of each game varies. For example, at blackjack, it is 2%. While at roulette tables, it is 2.7%. So, everyone should brace themselves for losses, as no casino gaming option offers 50/50 odds or a positive win probability.
No gambler must overstep his means when testing his luck at games of chance. Therefore, proper budgeting of all gaming sessions is paramount. What is excellent about most modern online casinos is that these platforms allow users to set deposit and loss limits. Such functions are available inside a player’s profile page. They are one of many responsible gambling tools that internet operators look to implement to curb the rise of problem gambling. Once a player hits these limits, he will instantly get notified that he has reached his deposit/loss restriction. In the case of either, he will be unable to fund his account to keep playing.
It is best to avoid using debt accumulation payment methods when gambling. Britain’s gaming regulator, the UK Gambling Commission, banned credit cards at UKGC-licensed gambling sites in March 2020. Other top overseeing bodies have since announced that they also are considering their omission as an allowed transaction option for their licensees. It is never a good idea for anyone to gamble with money they do not have in their pocket. Players that incur losses they owe to a bank or other financial institutions face tremendous amounts of stress. That mounting pressure can fuel many future bad choices.
The gambler’s fallacy is the false notion that because someone has suffered several losses in a row, he is due for a win. However, the reality is that previous outcomes do not dictate future ones. Each slot spin or hand dealt at a baccarat table is its own story. Their results are random. Previous ones do not affect them. Each time a coin gets flipped, the chances of it landing heads or tails are 50/50. Therefore, no one should chase losses, hoping to win a massive prize, recouping all of them, and profiting. Knowing when to quit is crucial, as people who continue gambling when things are not going their way can dig a hole for themselves that they cannot exit.
Self-exclusion programs are available at both brick-and-mortar and online casinos. They are policies enacted by governments and operators that address problem gambling. In short, self-exclusion is an option any gambler has to voluntarily request that their name gets added to a list of players who may get legally denied access to gaming services. Anyone that feels that they are experiencing issues when attempting to stop their betting activities should explore it.
No one should fall prey to gambling superstitions like the idea that loose slots exist or that it is better to spin reels at night. Betting on casino-style games is entirely lucked-based. Yes, decision-making plays a role in specific gaming products, but in the end, fate has the final say. What everyone should focus on is budgeting their sessions wisely. Plus, keeping a cool-headed approach to this form of entertainment by not treating it as a money-making opportunity.
Shelly Schiff has been working in the gambling industry since 2009, mainly on the digital side of things, employed by OnlineUnitedStatesCasinos.com. However, over her eleven-year career, Shelly has provided content for many other top interactive gaming websites. She knows all there is to know about slots and has in-depth knowledge of the most popular table games. Her golden retriever Garry occupies most of her leisure time. Though, when she can, she loves reading Jim Thompson-like crime novels.