https://www.warrington.gov.uk/news/christmas-time-square

Managing Your Gambling Budget

0

Online casinos are just plain fun. You get to play games from the comfort of your home, have the thrill of betting, and might just win some money.

If you play smart and have some luck, you might even make some decent cash. And that’s exactly what makes gambling online so tempting.

A bunch of clicks do not always have the weight they should, considering they might cost you a lot of money. And where do you stop, when you’re just having some innocent fun with small bets where losing does not feel quite as bad? Well, even those pile up eventually. That’s why it’s smart to start online gambling with a plan in mind on how to manage your spending.

Responsible Online Gambling

Some people might whine about the restrictions that are put on gambling, but all in all we’re living in a pretty good era to get into online gambling. Online safety is held to the highest standards these days, and the wellbeing of customers is the focus of plenty of laws. That’s why decent casinos come with a license from a gambling authority.

By attaining a license, they prove that they stick to necessary standards of quality and safety. To get there, they have to implement all of the rules and regulations and continuously prove they are keeping them up.

By doing so they agree to:

  • have IT-safety measures in place that protect the data and transactions of their clients
  • have a thorough background check on the casino owners
  • have separate accounts for their clients’ deposits, so they are safe in case of bankruptcy
  • have information and tools that prevent gambling addiction
  • have authentication methods to prevent minors from creating an account

Which casinos are good, where they get their license, what the jurisdiction looks like and which services they offer is listed on sites like www.casinomeister.com. The online gambling forum creates reviews based on their expertise and user experiences and shares their collected knowledge with online casino enthusiasts.

Better Safe Than Sorry

So why is that a good thing? Apart from the obviously fantastic knowledge that the casino is not a scam, and your money and data will be safe. Having tools that prevent gambling addiction seems like a buzzkill to many players.

Methods, that stop you from spending too much too fast, are thinks like:

  • a monthly deposit limit
  • limits on how big bets can be
  • making sure spins at slot machines take at least 5 seconds
  • removing functions like autoplay
  • software that analyzes spending and gambling habits and warns or bans users accordingly
  • the option to set limits for yourself
  • the option to ban yourself

Not every casino is quite as strict. While gambling licenses from Germany, for example, crack down really hard on potential hazards for players and minors, others, like the Curacao-License are much looser.

But here’s the thing. In Germany, they only just officially legalized online gambling, with the requirement that they have a license issued in Germany. That’s why these safety measures are a good thing. They allow us to gamble at all, while many concerned parties want to outlaw it altogether. So, we rather set some limits than not get to play at all. And if we look at the potential risk, the reasons these laws exist, that’s fair.

The road to losing money and the road to gambling addiction are a slippery slope. You might say to yourself: Nah, I can handle the temptation. But there is no guarantee. So, the motto is: Better safe than sorry.

Ways to manage your budget

Multiple banking accounts

One of the smartest things you can do is get two banking accounts. One with and the other without internet functionality and debit card. The one that makes it hard to use the money for gambling online is your everyday money you need to live. The other is your ‘casino’ account, that won’t get access to your savings.

Setting limits

Set yourself limits of what you are willing to pay — and lose! Many casinos allow you to do so in their account settings. For others, you might have to contact the customer service to make them put a limit on spending with your debit card.

Another limit you can set is a time limit. Allow yourself a certain amount of time you get to play and stop when you reach it, no matter how tempting your wins or wanting to gain back what you lost might seem.

Setting goals

If you play to win, set yourself a goal. Go in with £50 and plan on reaching £200, cash out as soon as you hit the reached goal. If you want, you can just cash out some of the money and keep playing with the initial £50, but keep the gained money safe in the meantime.

Conclusion

Limits and controlling mechanisms in gambling are a good thing. They might damper the fun for some, but they are worth it in the long run. This way you can build yourself a safety net, that makes sure you don’t get lost in the small or big temptations and lose more than you can afford to.

Gambling addiction is a serious issue and by using these techniques you can prevent yourself from getting in too deep. If you have realized you might have developed some unhealthy gambling habits, please contact your local support hotlines or health professionals to get help.

 

Share.

About Author

Leave A Comment