Responsible gambling has been a key watchword in mature markets like the UK for a good while now, and particularly since 2018 when the UK Gambling Commission (UKGC) made this a core strategic objective in a bid to help vulnerable gamblers.
Because of this and the growing influence of UK brands across the globe, responsible gambling and the tech stacks that enable this are now becoming increasingly commonplace across the globe. This includes burgeoning markets such as North America and California, where sports betting is becoming an increasingly popular and lucrative pastime.
In addition to making digital responsible gambling tools available to players, operators are also providing more detailed guides and tips to help customers safeguard themselves. This is contributing to a broader culture of responsibility and creating a sense of accountability among players, ensuring that the concept becomes much more sustainable over time.
5 Top Tips to Make Gambling Fun and Safe in 2023
OK, we hear you ask, but what are the most insightful and actionable tips to ensure that gambling remains a safe and fun activity in 2023? Here are a few to keep in mind!
● #1. Only Ever Wager With Money That You Can Afford to Lose: Safe and efficient bankroll management is central to the concept of responsible gambling, and this is built on the principle that you never wager more than you can comfortably afford to lose within a predetermined period of time. So, while your bankroll can cover a single sports betting event, gaming session, week or month, it’s crucial that you always wager within your financial means and the context of your earnings and existing outgoings. You can then gamble responsibly and with peace of mind at all times, which is important if you’re going to enjoy the experience of wagering online!
● #2. Make Use of Deposit and Time Limits: On a similar note, you can now practically manage your bankroll online by using the time and deposit limits utilized by sportsbooks. Deposit limits cap how much you can wager within a set period of time, and can be set to cover a day, week or month depending on how frequently you wager. Time limits work in a similar way, albeit they’re focused on limiting your access to online sportsbooks and optimizing the length of individual gaming sessions. Such measures afford you practical control and help you to wager in a balanced and fun way, while it should be noted that they’re available at a growing number of licensed sportsbooks around the world.
● #3. Avoid Emotive Gambling: There remains a significant correlation between gambling and investment, especially when you consider the fundamental principles that underpin both practices. For example, emotion is considered to be the enemy of both sports betting and investment decisions, as this can encourage you to wager (or commit) excessive amounts of money or chase losses aggressively over time. Ultimately, you must maintain a sense of discipline and adhere to your bankroll and risk tolerance levels at all times, as this creates a more strategic mindset that minimizes the risk of emotive wagering and its negative effects.
● #4. Consider Tactics Such as Matched Betting: When you place a sports wager, you’re effectively using a ‘back’ bet to counter the ‘lay’ wager initiated by a bookmaker at the published odds. However, you can effectively lay your own back wager when using a betting exchange, enabling you to cover two different outcomes at identical prices. This is known as ‘matched betting’ and can eliminate risk when wagering, especially when you target sports such as tennis (where the ‘draw’ is eliminated as an option) and leverage free bet offers to ensure at least some level of profit. Typically, you can make between 50% and 70% in profit when successfully using matched betting, so it’s a worthwhile strategy if you’re a more experienced punter.
● #5. Use Knowledge and Information to Your Advantage: While most forms of gambling are classed as games of chance, sports betting at least enables you to leverage any knowledge or insight you have pertaining to particular disciplines, teams or players. At the same time, sports betting punters have access to a wealth of historic and real-time data, such as recent form, head-to-head statistics between specific teams and players and the very latest injury and suspension news. Such information can be used to identify value in published odds and drive more informed decisions, which have a significant impact on your ability to remain profitable over time.
The Last Word
So, there you have it; some actionable tips to help you gamble safely and responsibly online! Following these is key if you’re to have fun and make the most of your starting bankroll, regardless of your preferred sports and prevailing appetite for risk!
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